Palantir (PLTR) Stock: Can Q2 Earnings Finally Break the Stalemate?

TLDR

• PLTR rose ~1% Friday after the U.S. Defense Intelligence Agency withdrew a solicitation following Palantir’s bid protest
• PLTR is down ~30% in 2026 but up ~5% over the last 30 days, holding steadier than many AI peers
• Q1 2026 adjusted free cash flow hit $925M, up 150% year over year; adjusted EPS also up ~150%
• CEO Alex Karp forecasts $15B–$18B in free cash flow within two years; full-year 2026 FCF guidance raised to $4.2B–$4.4B
• Q2 2026 earnings are due August 3; stock trades near $122, well below its 200-day moving average of ~$154

Palantir Technologies (PLTR) got a small boost on Friday, rising around 1% after the U.S. Defense Intelligence Agency pulled a procurement solicitation that Palantir had challenged.

Palantir Technologies Inc., PLTR

The agency said it withdrew the request at its own initiative. The contract involved an AI-enabled intelligence platform used to support military operations, including targeting functions.

Palantir filed a bid protest in May, arguing the government was trying to build a new system when commercial technology already existed. The withdrawal means the agency will likely need to rethink how it approaches the acquisition.

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