Palantir (PLTR) Stock Surges 10% After Best Quarter in Company History

TLDR

• PLTR stock climbed as much as 9.9% on Friday, adding to a 27% surge earlier in the week after Q2 earnings beat expectations
• Q2 revenue hit $1.94 billion, up 92.8% year-over-year, with EPS of $0.41 beating the $0.34 estimate
• A weaker July jobs report boosted tech stocks broadly, reducing expectations of a near-term Fed rate hike
• Analysts at Mizuho raised their price target to $215 with an outperform rating; consensus target sits at $190.73
• Insider selling remains a watch point, with insiders offloading over 1.1 million shares worth roughly $150.7 million in the last 90 days

Palantir (PLTR) had another strong session on Friday, climbing as much as 9.9% and trading up around 9.4% as of early afternoon. The move followed an even bigger 27% jump earlier in the week after the company reported its best-ever quarterly results.

Palantir Technologies Inc., PLTR

Q2 revenue came in at $1.94 billion, up 92.8% year-over-year and well ahead of the $1.81 billion analyst estimate. EPS of $0.41 beat the $0.34 consensus by $0.07. That compares to just $0.16 EPS in the same quarter last year.

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