- Stock Movement: PLTR shares fell 7.3% to $192.13 despite reporting quarterly results that surpassed expectations, on course for its largest one-day percentage drop since October 3, after hitting a record high close of $207.18 on Monday.
- Quarterly Results: The data analytics firm posted Q3 revenue of $1.18 billion, up 63% year-on-year, and adjusted EPS of $0.21, topping LSEG estimates of $1.09 billion revenue and $0.17 EPS, driven by strong AI demand.
- Q4 Outlook: Palantir projects Q4 revenue between $1.327 billion and $1.331 billion, also beating analyst models.
- Investor Concerns: Despite strong numbers, investors have been cautious about the stock’s rich valuation heading into the report.
- Brokerage Updates: At least 8 brokerages raised their price targets post-report:
- BofA Global Research: $215 → Street-high $255
- Morgan Stanley: $155 → $205
- Average rating among 26 brokerages: “Hold”
- Median price target: $189 (up from $165 a month ago)
- Performance: PLTR stock is up ~155% YTD and approximately 370% over the past year.