Palantir’s Blowout Q2 and Higher Guidance Trigger Fresh Analyst Upgrades

Overview

• Palantir reported roughly $1.94 billion in second‑quarter revenue, about 93–94% higher year over year, and the company raised full‑year 2026 revenue guidance to roughly $8.15 billion.
• The results showed strong commercial and government demand, including U.S. commercial sales up about 149% to $764 million, U.S. government revenue near $809 million, and 220 customer deals worth at least $1 million each.
• Goldman Sachs upgraded Palantir to Buy with a $230 price target and several other firms raised targets or ratings, citing growth opportunities tied to custom AI deployments and customers’ desire to keep sensitive data under local control.
• Shares briefly climbed above $200 on the news then fell back to close below that level, as analysts balanced the bullish momentum against the company’s premium forward valuation and concentrated customer base.
• Investors and customers could see more bespoke AI projects and deeper engineering partnerships if the trend continues, but high valuation multiples and large, concentrated deals leave the stock vulnerable if growth slows.