Overview
- Palantir posted roughly 63% year-over-year revenue growth to about $1.2 billion in Q3 and raised full-year sales guidance to $4.4 billion.
- The company reported a record $2.76 billion in total contract value and closed 204 deals of at least $1 million, highlighting larger enterprise activity.
- Management credited rapid U.S. commercial expansion tied to adoption of its Artificial Intelligence Platform, with customers converting to broader enterprise agreements.
- Shares jumped about 7%–8% on Nov. 10, trading back above $190 after last week’s pullback, underscoring heightened volatility.
- Analysts at Bank of America and Piper Sandler issued positive ratings as Wedbush’s Dan Ives backed further upside, even as critics cite valuation near 100x forward sales and Michael Burry’s put options; recent partnerships include Snowflake, Lumen and Nvidia.