Overview
- Shares rose about 3% on Dec. 2 as options data showed roughly 1.5-to-1 call buying over puts following a November decline of roughly 16%–23%, the worst month since August 2023.
- Q3 results topped forecasts with revenue of $1.18 billion, up 63% year over year, non-GAAP EPS of $0.21, and U.S. commercial revenue up 121% to $306 million, supported by a reported 10-year, $10 billion U.S. Army deal.
- Analyst sentiment remains cautious, with roughly 80% rating Hold or Sell and a median 12-month target near $188–$190, while multiple firms flag an “extreme” valuation, citing forward P/E estimates ranging from about 164x to 233x.
- High-profile investor moves keep scrutiny elevated: Michael Burry disclosed a short position that drew public rebukes from CEO Alex Karp, and Ken Griffin’s Citadel trimmed its stake by 32% in Q3 (224,152 shares).
- Palantir is enlarging its defense footprint in Europe, with U.K. leadership citing £1.5 billion committed and a near-final £750 million, five-year Ministry of Defence agreement, alongside new deals with PwC and FTAI.