What's Going On With Palantir Stock Monday?

Palantir Technologies Inc PLTR shares are in the spotlight Monday ahead of earnings after the bell. Here’s what you need to know before the report.

What To Know: Palantir is scheduled to report financial results for the third quarter after the market close on Monday. Analysts are expecting the company to report earnings of 9 cents per share and revenue of $701.13 million, according to estimates from Benzinga Pro.

Last quarter, Palantir beat estimates on the top and bottom lines as revenue grew 27% year-over-year, led by strength in U.S. commercial revenue. Revenue from U.S. commercial customers grew 55% year-over-year as the company’s U.S. commercial customer count jumped 83%.

Palantir guided for third-quarter revenue of $697 million to $701 million and raised its full-year revenue outlook. The company also said it expected third-quarter adjusted income from operations of $233 million to $237 million and noted that it continues to expect GAAP operating income and net income in each quarter this year. The company’s most recent quarter marked Palantir’s seventh consecutive quarter of GAAP profitability.

“Our growth across the commercial and government markets has been driven by an unrelenting wave of demand from customers for artificial intelligence systems that go beyond the merely performative and academic,” Palantir CEO Alex Karp said in a letter to shareholders last quarter.

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In a note last month, Wedbush analyst Dan Ives maintained an Outperform rating on Palantir shares and lifted the price target from $38 to $45, citing increased confidence in the company’s enterprise-driven AIP strategy.

The Wedbush analyst highlighted a series of checks suggesting that more and more enterprises are entering into discussions about the potential deployment of Palantir's AI platform.

"With AI spending expected to ramp significantly within IT budgets in 2025, we believe the Messi of AI – Palantir is in a prime spot to continue expanding its pipeline/deal flow," Ives said.

On the other hand, Mizuho analyst Matthew Broome maintained Palantir with an Underperform ahead of earnings, but raised the price target from $24 to $30.

PLTR Price Action: Palantir shares are up approximately 144% year-to-date. The stock was roughly flat Monday at $41.75, according to Benzinga Pro.

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