Palantir Technologies’ (PLTR) stock is up 4% after the data analytics company reported that its quarterly revenue reached $1 billion for the first time.
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The Denver, Colorado-based company reported earnings per share (EPS) of $0.16 for this year’s second quarter, which surpassed Wall Street forecasts of $0.14. Revenue in the period totaled $1 billion, which was ahead of the $940 million expected among analysts. Sales were up 48% from a year earlier.
Palantir, which also makes artificial intelligence (AI) software, surprised Wall Street, which wasn’t expecting the company to hit the $1 billion revenue mark until the year’s fourth quarter. “The growth rate of our business has accelerated radically,” wrote CEO Alex Karp in a letter to shareholders.
Palantir’s income statement. Source: Main Street Data
Raised Guidance
PLTR stock is also getting a boost from the fact that management lifted its full-year guidance. For all of 2025, the company expects revenue of $4.142 billion to $4.150 billion, up from previous guidance of $3.89 billion to $3.90 billion.
For the current third quarter, Palantir forecast revenues between $1.083 billion and $1.087 billion, beating an analyst estimate of $983 million. Palantir also lifted its operating income and full-year free cash flow outlooks. During the quarter, Palantir said it closed 66 deals of at least $5 million and 42 deals totaling at least $10 million. The total value of its contracts grew 140% from last year to $2.27 billion.
PLTR stock is up 112% this year.
Is PLTR Stock a Buy?
Palantir Technologies’ stock has a consensus Hold rating among 17 Wall Street analysts. That rating is based on four Buy, 10 Hold, and three Sell recommendations issued in the last three months. The average PLTR price target of $111.14 implies 30.82% downside risk from current levels. These ratings are likely to change after the company’s financial results.
