Palantir shares fall 6.3% to $184.11 ahead of Q3 earnings
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Palantir stock closed at $184.11 on Oct 30, down 6.3%, before its Nov 2 Q3 report.
Analysts split on whether its AI-driven rally already prices in the growth.
Background
Palantir Technologies is a data analytics software company (NASDAQ: PLTR) that builds platforms for intelligence agencies, defense organizations and commercial enterprises, including Gotham, Foundry, Apollo and AIP. Its Q2 2026 revenue rose 93% to $1.935 bn on 149% growth in U.S. commercial revenue, and it raised full-year guidance to $8.150-$8.158 bn. Shares had gained 57% over three months as of Oct 12, far outpacing the S&P 500's 2.8%, and the stock now trades at a P/E (TTM) of 157.36, so the upcoming Q3 report faces tough year-over-year comparisons.
How it unfolded
- Sep 1, 2026Palantir announced an agreement to produce and deliver eight TITAN systems to the US Army.
- Sep 8, 2026Nebius became Palantir's preferred sovereign AI infrastructure partner.
- Sep 10, 2026NVIDIA and Palantir announced a sovereign AI collaboration, starting with NVIDIA's supply chain.
- Oct 8, 2026Goldman Sachs upgraded the stock to buy.
- Oct 15, 2026Customers Bank announced plans to deploy Foundry and AIP for deposit onboarding.
- Oct 21, 2026Palantir highlighted sovereign AI deployments across customers including L3Harris and McCarthy.
- Oct 30, 2026Shares fell 6.3% to $184.11, down 6.4% over the past week and 1.6% over the last month; the 52-week range is $106.37 to $212.94.
- Nov 2, 2026Palantir is scheduled to report third-quarter 2026 results after the bell.
Who’s saying what
- Caution
- Zacks rates the stock a prudent hold before earnings, arguing the rally and valuation premium mean much of the expected growth is already priced in, and flags an Earnings ESP of -2.44% as a risk of disappointment.
- Bulls
- JPMorgan analyst Brian Essex cites Palantir's "uniquely profitable hyper-growth fundamentals, with potential for substantial disruptive upside within its primary market segments."
- Analysts
- GuruFocus puts the stock about 3.5% below its GF Value estimate of $190.79, suggesting it is undervalued, with a GF Score of 84/100.
- Caution
- GuruFocus notes insiders have sold $876.7M in shares over the past 12 months with no buying activity.
Still unverified
Zacks' model does not conclusively predict an earnings beat for Palantir this time around.