Palantir Technologies Inc.
The stock sits near record valuation levels following a 29.5% jump after its prior earnings release. Palantir reports third-quarter results after the market closes on Monday.
Consensus estimates compiled by analysts project earnings per share of 41 cents on revenue of $2.18 billion. In the second quarter, the company posted adjusted earnings per share of 41 cents, beating the 35-cent estimate, and generated $1.94 billion in revenue against the projected $1.80 billion.
Growth Metrics In Focus
Traders monitor several revenue drivers, led by U.S. commercial sales, which grew 149% year-over-year to $764 million in the second quarter.
Palantir guided for full-year commercial expansion of at least 134%. U.S. government revenue also expanded 90% to $809 million. Management previously guided third-quarter revenue between $2.160 billion and $2.164 billion and lifted its full-year growth outlook to 82%.
Wall Street Forecast Revisions
Recent Wall Street actions reflect upward forecast revisions. Rosenblatt reiterated a Buy rating on Tuesday and raised its price forecast to $260. Piper Sandler maintained an Overweight rating on Oct. 23 with a target increase to $231, while Citigroup reiterated a Buy rating on Oct. 22 with a $250 forecast.
According to the Benzinga Analyst Consensus, 22 analysts cover the stock, yielding 17 Buys, four Holds, and one Sell. The consensus rating stands at Buy, with an average price forecast of $204, implying 5% upside.
Technical Analysis
Palantir is trading 1.4% below its 20-day SMA ($197.03), which suggests the stock is losing some short-term momentum after riding higher into October's swing-high window. At the same time, it remains 4.4% above the 50-day SMA ($186.22) and more than 20% above the 100-day and 200-day averages, so the intermediate trend still leans bullish even as the near-term tape cools.
RSI is the cleaner momentum read right now: at 51.05, it's back in neutral territory, signaling the stock is no longer "stretched" to the upside the way it was when RSI pushed into overbought in October.
Trend structure is still constructive, with the 20-day SMA above the 50-day SMA and the golden cross that occurred in September (50-day above 200-day) still in place. From a longer-term perspective, the stock is also holding well above the $153.44 200-day SMA, which is often the line investors watch to separate bull trends from deeper corrections.
- Key Resistance: $194.50
- Key Support: $184.50
