What's Going On With Palantir Stock This Week?

Palantir Technologies Inc. PLTR shares are trading higher Friday after climbing new highs during the week. Here’s what you need to know.

The Details: On Monday, Palantir reported third-quarter revenue of $725.52 million, surpassing the $701.13 million estimate and earnings per share of 6 cents, beating expectations of 4 cents. Total revenue rose 30% year-over-year, with U.S. commercial revenue up 54% and U.S. government revenue up 40%. CEO Alex Karp added that the company's growth is "driven by unrelenting AI demand that won't slow down."

Shares continued to rise after some analysts commented on Palantir's expanding U.S. customer base and AI product demand. Analysts at Wedbush, Mizuho and DA Davidson all raised their price targets, with Wedbush's Dan Ives citing Palantir's "robust" results and AI expansion.

The stock hit another all-time high on Wednesday after Donald Trump's presidential win sparked market optimism on potential policy shifts, which could favor defense and AI sectors. Palantir, up 25% over the past week, was seen as a potential beneficiary of a Trump administration’s defense and intelligence priorities.

Palantir shares also faced early pressure after Jefferies downgraded the stock from Hold to Underperform, citing valuation concerns. However, the stock bounced back intraday Thursday after Palantir announced a partnership with Amazon Web Services (AWS) and Anthropic to bring advanced AI capabilities to U.S. defense and intelligence agencies. The partnership will integrate Anthropic’s Claude AI models into Palantir's AI Platform for secure government use.

PLTR Price Action: Palantir shares were up 4.60% at $58.44 at the time of writing, according to Benzinga Pro.

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