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A passerby walks in front of a wooden slatted wall displaying the Palantir logo
Photo: Investing.com

Palantir Stock Rises 60% in Q3 on Analyst Upgrades

SEC / Palantir Technologies2 min read6 sources

Why did Palantir stock jump 60% in the third quarter?

Palantir (PLTR) stock, up 60% in the third quarter, its best in a year, traded near $190 on Wednesday as analysts raised targets on AI demand.

Key numbers

Q3 share price move+60.3%best quarter in a year
Q2 revenue$1.935B+93% YoY
Q2 U.S. commercial revenue$764M+149% YoY
2026 revenue guidance$8.150–$8.158Braised
Forward P/E~100xfrom ~192x in January
Analyst price targets$250 highvs ~$196 average

What happened

Palantir (PLTR) stock, up 60% in the third quarter, its best in a year, traded near $190 on Wednesday as analysts raised targets on AI demand. The shares had fallen about 34% in the first half of 2026, so the rebound leaves them up roughly 7% for the year. Sales rose 93% from a year earlier to $1.935 billion in the April–June quarter, and the company raised its full-year sales forecast (guidance) to about $8.15 billion. UBS and DA Davidson lifted their price targets to $250.

Why it matters

Palantir's 60% jump shows investors are paying up for AI companies that turn the hype into real sales. The stock now trades at about 100 times its expected yearly profit (forward P/E), down from about 192 times in January. A price that high means the company must keep growing very fast to justify it, which leaves little room for disappointment.

Who this affects

Marketbullish
Medium impact
Software investors gain as AI spending favors proven platforms.
Companybullish
High impact
Shareholders gain, but the high valuation leaves little slack.
Competitorsbearish
Low impact
Slower-growing rivals like Salesforce and ServiceNow look weaker by comparison.
Industrybullish
Medium impact
Enterprise AI software gains as customers pay for real tools.

Palantir vs Salesforce, ServiceNow, Snowflake

PalantirPLTR$460B$1.935B+93%
SalesforceCRM—$11.3B+11%
ServiceNowNOW—$3.99B+24%
SnowflakeSNOW—$1.55B+35%

As of 2026-10-07

How we got here

  1. Palantir reports Q2 sales up 93% and raises its full-year outlook

  2. Shares jump about 29% the day after the earnings report

  3. Quarter ends with shares up 60.3% after a 34% first-half drop

  4. Palantir names Armada its first certified modular data-center partner; shares rise about 2%

  5. Yorkville Ives starts coverage at Outperform with a $250 price target

What to watch

  • Q3 results (date estimated); Palantir guided to $2.160–$2.164B in revenue2026-11-02
  • Whether the Armada partnership brings paying customers; no financial terms were disclosedQ4 2026
  • Further analyst target changes against the roughly $196 average target2026-10-31

Educational content only. Not investment advice.

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