Palantir surges 16% to $145.50 after Q2 revenue beats consensus, up 93% YoY

Published Aug 4, 01:04 PM UTC

Palantir Technologies (PLTR) shares surged 16% to $145.50 after reporting a blowout Q2 2026, with revenue up 93% year-over-year to $1.94 billion, beating the $1.81 billion consensus. The company's U.S. commercial business was a standout, with revenue growing 149% to $764 million and total contract value hitting a record $2.1 billion. CEO Alex Karp raised full-year 2026 revenue guidance to $8.15 billion and highlighted a 'sovereign AI revolution.' Deutsche Bank upgraded Palantir to Buy with a $200 price target, while Jefferies remained bearish with an Underperform rating and $80 target. Despite the strong results, peer AI stocks C3.ai and UiPath saw no sympathy rally, with C3.ai flat and UiPath down 2%. The broader tech ETF IGV was also unchanged, confirming the move was a single-stock reaction to Palantir's earnings.