Palantir tops $2 billion quarterly revenue but new contract growth slows
The gist
Palantir's Q3 revenue rose 96% to $2.3 billion, its first quarter above $2 billion.
New bookings grew just 6%, and the stock fell about 10% after.
How it unfolded
- Sep 2, 2026Palantir shares fell 6% as investors booked profits after a rally that had pushed the stock to roughly 144 times earnings.
- Oct 9, 2026The stock closed at $208.88, surpassing its record high, after Barclays initiated coverage at Overweight with a $265 target and Goldman upgraded to Buy with a $230 target.
- Nov 2, 2026Palantir reported Q3 revenue of $2.31 billion, up 95.9% year on year, and raised its 2026 revenue forecast to $8.53 billion; shares were flat at $179.78 right after the results.
Key terms
- compounded annual rate
- The mean yearly growth rate of a value over a period, accounting for compounding.
- Overweight
- An analyst rating indicating a stock is expected to outperform other stocks or its benchmark.
Source: Wikipedia