Palantir (PLTR) Stock Near Record Highs, Pentagon Deal Could Push It Higher

TLDR

• Palantir reported Q2 revenue of $1.94 billion, up 92.8% year over year, beating analyst estimates of $1.81 billion
• The Maven Smart System is approaching $1 billion in annual revenue and nearing Pentagon program-of-record status
• PLTR opened at $186.29 on Monday with a 52-week range of $106.37 to $207.52
• Institutional ownership sits at 45.65%, with major funds including State Street, Norges Bank, and Arrowstreet Capital boosting positions
• Valuation remains the key debate, with the stock trading at roughly 159 times earnings against a sector median in the low 20s

Palantir Technologies (PLTR) opened at $186.29 on Monday, not far off its 52-week high of $207.52. The stock has more than doubled off its 52-week low of $106.37, fueled by blowout earnings and growing confidence in its AI business.

Palantir Technologies Inc., PLTR

Q2 results were hard to ignore. Revenue hit $1.94 billion, up 92.8% year over year and well ahead of the $1.81 billion analysts had expected. Earnings per share came in at $0.41, topping the $0.34 consensus by seven cents. Adjusted free cash flow reached $1.22 billion at a 63% margin.

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