Palantir (PLTR) Stock Drops as Profit-Taking Follows Record Q2 Earnings Beat

TLDR

• PLTR fell Thursday on short-term profit-taking after a multi-day post-earnings rally
• Q2 revenue hit $1.94 billion, up 92.8% year over year, beating estimates by around $136 million
• Adjusted EPS of $0.41 topped the $0.34 consensus estimate
• Michael Burry disclosed short positions in PLTR, warning of a potential market top
• Analyst consensus sits at “Moderate Buy” with an average price target of $190.73

Palantir (PLTR) stock was trading at $153.75 on Thursday, pulling back from recent highs as traders locked in gains following a strong post-earnings run. The stock had surged roughly 30% after Monday’s blowout Q2 report before momentum stalled Wednesday.

Palantir Technologies Inc., PLTR

Q2 revenue came in at $1.94 billion, up 92.8% year over year, beating the $1.81 billion analyst estimate. Adjusted EPS of $0.41 cleared the $0.34 consensus by a comfortable margin.

U.S. commercial revenue surged 149% in the quarter. Government revenue rose 90%. Management pointed to demand for AI sovereignty tools as the driver.

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