Palantir Technologies (PLTR) will report its Q3 earnings on November 3, after market close. The stock has surged nearly 150% year-to-date, driven by momentum in its AI software business, new government deals, and strong financial position. Just yesterday, the stock touched a new intraday high of $192.83 after it signed a new defense deal with the government of Poland. However, even with such strong demand for its AI tools, Palantir’s high valuation remains a concern, and analysts are still cautious about the stock.
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Interestingly, traders expect Palantir’s stock to move about 11.7% up or down after earnings, based on options pricing. This shows that investors are bracing for big volatility as they wait for updates on AI deals, government contracts, and commercial growth. They’ll also focus on management’s outlook for the fourth quarter and 2026.
What to Expect on November 3
Analysts expect the company to report strong top and bottom line numbers, driven by rising demand for the company’s AI Platform (AIP). Wall Street expects PLTR to report earnings of $0.17 per share, up 70% from last year. Also, revenues are expected to increase nearly 50% year-over-year to $1.09 billion.
Analyst’s Take Ahead of Q3
Ahead of the Q3 print, Piper Sandler analyst Clarke Jeffries reiterated a Buy rating and raised his price target from $182 to $201, reflecting continued upside potential in the AI stock. Jeffries acknowledged that Palantir’s valuation remains high, leaving little margin for error if growth slows. However, he believes the company has not yet reached its “peak growth” phase and sees no clear “catalyst to halt current momentum.”
Jeffries cited several reasons for his bullish view. He pointed to Palantir’s solid revenue base, with over $7 billion in signed contracts and another $4 billion in IDIQ (Indefinite Delivery, Indefinite Quantity) deals. He also noted triple-digit growth in Commercial bookings this year.
Is PLTR a Good Stock to Buy Now?
Overall, Wall Street is sidelined on PLTR stock, with a Hold consensus rating based on four Buys, 13 Holds, and two Sell recommendations. The average PLTR stock price target of $157.65 implies 16.67% downside risk from current levels.
