Analyst Consensus ?
ConsensusHold26 ratings
Bullish1350.0%
Neutral1038.5%
Bearish311.5%
Palantir Technologies Inc. · PLTR · FY2026 Q2 · Calendar Q3 2026
PLTR Q2: Sovereign AI and U.S. demand drive a guidance raise
The Q2 analysis supports a constructive but conditional thesis: strong U.S. commercial and government demand, sovereign AI adoption, and a raised full-year outlook reinforce growth; model dependence, expense growth, procurement timing, and international execution remain the key tests.
Reported After market closeNASDAQTechnology
$424.75B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.41
Consensus $0.34
EPS surprise
+19.0%
Reported versus consensus
Reported revenue
$1.94B
Consensus $1.81B
Revenue surprise
+6.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+29.5%
Event window
SPY move
+1.8%
Same window
Abnormal move
+27.7%
Stock minus SPY
Volume
4.9×
Versus trailing sessions
Subsequent drift
+10.6%
Up to 20 sessions
PLTRSPY benchmark
Ask FN2 about PLTR FY2026 Q2
Transcript, numbers and history already loaded
Why did PLTR rise 29.5% after beating EPS estimates in FY2026 Q2?What changed in PLTR's guidance and outlook in FY2026 Q2?Give me the bull and bear case for PLTR after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, the analysis describes faster revenue growth, a higher full-year 2026 outlook, stronger cash generation, and greater emphasis on sovereign AI. Management also introduced the American Builder Summit while continuing investment in talent and product development.
Guidance delta
Management raised full-year 2026 revenue guidance, with the analysis citing $8.15 billion and U.S. commercial guidance above $3.424 billion.
Key takeaways
- Q2 growth was led by U.S. commercial and government demand, with sovereign AI positioned as a central growth engine.
- Management highlighted AIP, Maven, and the NVIDIA partnership as part of the product and ecosystem strategy.
- Cash generation remained strong, while technical hiring and product investment increase the need to monitor margin pressure.
- The main open questions are international traction, model flexibility, and the sustainability of the expense ramp.
Management priorities
- Scale the AIP stack for sovereign AI across commercial and government customers.
- Expand Maven usage and its developer ecosystem.
- Deepen the NVIDIA partnership for model fine-tuning and orchestration.
- Continue the American Builder Summit and American Tech Fellowship talent initiatives.
Follow PLTR with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$184.99Current
$4.5Low
$132.72Average
$250High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| UBS | Buy | Buy | Maintain | Sep 15, 2026 |
| Rosenblatt | Buy | Buy | Maintain | Sep 11, 2026 |
| DA Davidson | Buy | Buy | Maintain | Sep 11, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Aug 4, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Aug 4, 2026 |
| Deutsche Bank | Buy | Hold | Upgrade | Aug 4, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 4, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Aug 4, 2026 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jun 16, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Jun 5, 2026 |
| Argus Research | Buy | Hold | Upgrade | May 6, 2026 |
| RBC Capital | Underperform | Underperform | Maintain | May 5, 2026 |
| HSBC | Hold | Buy | Downgrade | May 1, 2026 |
| Freedom Broker | Buy | Sell | Upgrade | Feb 13, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 4, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Nov 4, 2025 |
| Baird | Neutral | Neutral | Maintain | Nov 4, 2025 |
| B of A Securities | Buy | Buy | Maintain | Nov 4, 2025 |
| Loop Capital | Buy | Buy | Maintain | Aug 5, 2025 |
| William Blair | Market Perform | Underperform | Upgrade | Mar 5, 2025 |
| Northland Capital Markets | Market Perform | Market Perform | Maintain | Feb 4, 2025 |
| Jefferies | Underperform | Underperform | Maintain | Feb 4, 2025 |
| Benchmark | Buy | Buy | Maintain | Dec 20, 2024 |
| Raymond James | Market Perform | Outperform | Downgrade | Sep 23, 2024 |
| Monness, Crespi, Hardt | Sell | Neutral | Downgrade | Jun 21, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 10, 2023 |
Named analyst price targets
Upside is calculated against the persisted current price $184.99. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $250 | $173.31 | +35.1% | Sep 15, 2026 |
| D.A. Davidson | Gil Luria | $250 | $168.03 | +35.1% | Sep 11, 2026 |
| UBS | Analyst unavailable | $215 | $175.23 | +16.2% | Aug 11, 2026 |
| Northland Securities | Analyst unavailable | $200 | $158.09 | +8.1% | Aug 4, 2026 |
| Mizuho Securities | Gregg Moskowitz | $215 | $153.91 | +16.2% | Aug 4, 2026 |
| Goldman Sachs | Analyst unavailable | $204 | $125.65 | +10.3% | Aug 4, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $156 | $125.65 | -15.7% | Aug 4, 2026 |
| D.A. Davidson | Gil Luria | $200 | $125.65 | +8.1% | Aug 4, 2026 |
| Jefferies | Brent Thill | $80 | $125.65 | -56.8% | Aug 4, 2026 |
| RBC Capital | Rishi Jaluria | $90 | $121.72 | -51.3% | Jul 31, 2026 |
| D.A. Davidson | Analyst unavailable | $175 | $125.73 | -5.4% | Jul 2, 2026 |
| UBS | Karl Keirstead | $200 | $129.98 | +8.1% | Jun 16, 2026 |
| Cantor Fitzgerald | Thomas Blakey | $138 | $137.42 | -25.4% | May 22, 2026 |
| Argus Research | Analyst unavailable | $190 | $135.91 | +2.7% | May 6, 2026 |
| D.A. Davidson | Analyst unavailable | $165 | $137.31 | -10.8% | May 5, 2026 |
| HSBC | Analyst unavailable | $151 | $144.07 | -18.4% | May 1, 2026 |
| Oppenheimer | Param Singh | $200 | $137.97 | +8.1% | Apr 30, 2026 |
| Mizuho Securities | Gregg Moskowitz | $185 | $132.37 | +0.0% | Apr 14, 2026 |
| Daiwa | Analyst unavailable | $180 | $142.91 | -2.7% | Feb 10, 2026 |
| Deutsche Bank | Brad Zelnick | $200 | $155.6 | +8.1% | Feb 3, 2026 |
| HSBC | Analyst unavailable | $205 | $156.07 | +10.8% | Feb 3, 2026 |
| D.A. Davidson | Analyst unavailable | $180 | $154.46 | -2.7% | Feb 3, 2026 |
| Northland Securities | Analyst unavailable | $190 | $147.76 | +2.7% | Feb 3, 2026 |
| UBS | Analyst unavailable | $180 | $147.76 | -2.7% | Feb 3, 2026 |
| Mizuho Securities | Analyst unavailable | $195 | $147.76 | +5.4% | Feb 3, 2026 |
| Piper Sandler | Analyst unavailable | $230 | $147.76 | +24.3% | Feb 3, 2026 |
| Jefferies | Analyst unavailable | $208 | $165.33 | +12.4% | Jan 22, 2026 |
| Truist Financial | Analyst unavailable | $223 | $174.04 | +20.5% | Jan 6, 2026 |
| Cantor Fitzgerald | Thomas Blakey | $198 | $192.26 | +7.0% | Nov 4, 2025 |
| D.A. Davidson | Analyst unavailable | $215 | $192.67 | +16.2% | Nov 4, 2025 |
| Morgan Stanley | Analyst unavailable | $205 | $192.29 | +10.8% | Nov 4, 2025 |
| Goldman Sachs | Analyst unavailable | $188 | $192.06 | +1.6% | Nov 4, 2025 |
| UBS | Karl Keirstead | $205 | $207.18 | +10.8% | Nov 4, 2025 |
| Robert W. Baird | William Power | $200 | $207.18 | +8.1% | Nov 4, 2025 |
| Mizuho Securities | Gregg Moskowitz | $205 | $207.18 | +10.8% | Nov 4, 2025 |
| Piper Sandler | Analyst unavailable | $201 | $177.21 | +8.7% | Oct 14, 2025 |
| Mizuho Securities | Analyst unavailable | $165 | $171.43 | -10.8% | Sep 15, 2025 |
| Wedbush | Daniel Ives | $200 | $173.27 | +8.1% | Aug 5, 2025 |
| Morgan Stanley | Analyst unavailable | $155 | $173.27 | -16.2% | Aug 5, 2025 |
| Piper Sandler | Brent Bracelin | $182 | $173.27 | -1.6% | Aug 5, 2025 |
| D.A. Davidson | Gil Luria | $170 | $173.27 | -8.1% | Aug 5, 2025 |
| Loop Capital Markets | Analyst unavailable | $180 | $173.27 | -2.7% | Aug 5, 2025 |
| UBS | Analyst unavailable | $165 | $173.27 | -10.8% | Aug 5, 2025 |
| Deutsche Bank | Brad Zelnick | $160 | $173.27 | -13.5% | Aug 5, 2025 |
| Wedbush | Daniel Ives | $160 | $142.5 | -13.5% | Jul 10, 2025 |
| Loop Capital Markets | Mark Schappel | $155 | $135.19 | -16.2% | Jun 12, 2025 |
| Mizuho Securities | Matthew Broome | $94 | $108.86 | -49.2% | May 6, 2025 |
| D.A. Davidson | Gil Luria | $115 | $108.86 | -37.8% | May 6, 2025 |
| Loop Capital Markets | Mark Schappel | $130 | $108.86 | -29.7% | May 6, 2025 |
| Wedbush | Daniel Ives | $140 | $106.38 | -24.3% | May 6, 2025 |
| William Blair | Analyst unavailable | $84 | $90.13 | -54.6% | Mar 5, 2025 |
| D.A. Davidson | Gil Luria | $105 | $103.83 | -43.2% | Feb 4, 2025 |
| Mizuho Securities | Gregg Moskowitz | $80 | $103.83 | -56.8% | Feb 4, 2025 |
| Morgan Stanley | Sanjit Singh | $95 | $103.83 | -48.6% | Feb 4, 2025 |
| Jefferies | Brent Thill | $60 | $103.83 | -67.6% | Feb 4, 2025 |
| Wedbush | Dan Ives | $75 | $64.35 | -59.5% | Nov 25, 2024 |
| Wedbush | Dan Ives | $57 | $51.02 | -69.2% | Nov 5, 2024 |
| D.A. Davidson | Gil Luria | $47 | $51.02 | -74.6% | Nov 5, 2024 |
| Wedbush | Daniel Ives | $45 | $37.12 | -75.7% | Sep 26, 2024 |
| Bank of America Securities | Mariana Perez Mora | $50 | $35.88 | -73.0% | Sep 16, 2024 |
| Northland Securities | Michael Latimore | $35 | $32.59 | -81.1% | Aug 22, 2024 |
| Citigroup | Tyler Radke | $30 | $29.28 | -83.8% | Aug 8, 2024 |
| Goldman Sachs | Gabriela Borges | $16 | $26.59 | -91.4% | Aug 6, 2024 |
| Bank of America Securities | Mariana Perez Mora | $30 | $26.92 | -83.8% | Aug 6, 2024 |
| Wedbush | Dan Ives | $38 | $26.82 | -79.5% | Aug 6, 2024 |
| D.A. Davidson | Gil Luria | $28 | $24.09 | -84.9% | Aug 6, 2024 |
| Wedbush | Daniel Ives | $50 | $28.9 | -73.0% | Jul 18, 2024 |
| Argus Research | Joseph Bonner | $29 | $23.57 | -84.3% | Jun 17, 2024 |
| Mizuho Securities | Gregg Moskowitz | $21 | $21.6 | -88.6% | May 7, 2024 |
| D.A. Davidson | Gil Luria | $24 | $21.7 | -87.0% | May 7, 2024 |
| Deutsche Bank | Brad Zelnick | $20 | $25.21 | -89.2% | May 7, 2024 |
| Wedbush | Dan Ives | $35 | $23.33 | -81.1% | May 6, 2024 |
| Jefferies | Brent Thill | $22 | $21.87 | -88.1% | Feb 6, 2024 |
| Goldman Sachs | Gabriela Borges | $11 | $16.66 | -94.1% | Aug 8, 2023 |
| Wedbush | Daniel Ives | $25 | $16.92 | -86.5% | Jul 28, 2023 |
| Goldman Sachs | Gabriela Borges | $8 | $8.59 | -95.7% | Feb 14, 2023 |
| Jefferies | Analyst unavailable | $7.5 | $6.36 | -95.9% | Jan 5, 2023 |
| Wolfe Research | Alex Zukin | $4.5 | $6.31 | -97.6% | Dec 21, 2022 |
| Citigroup | Analyst unavailable | $5 | $7.64 | -97.3% | Nov 11, 2022 |
| Citigroup | Analyst unavailable | $6 | $9.82 | -96.8% | Aug 9, 2022 |
| Jefferies | Analyst unavailable | $12 | $9.82 | -93.5% | Aug 9, 2022 |
| Deutsche Bank | Brad Zelnick | $8 | $9.82 | -95.7% | Aug 9, 2022 |
| Raymond James | Brian Gesuale | $20 | $10.46 | -89.2% | Jul 21, 2022 |
| Goldman Sachs | Gabriela Borges | $10 | $9.01 | -94.6% | Jun 23, 2022 |
| Bank of America Securities | Mariana Perez Mora | $13 | $8.86 | -93.0% | Jun 21, 2022 |
| Deutsche Bank | Brad Zelnick | $11 | $8.34 | -94.1% | May 15, 2022 |
| Morgan Stanley | Keith Weiss | $13 | $7.46 | -93.0% | May 10, 2022 |
| RBC Capital | Rishi Jaluria | $6 | $7.26 | -96.8% | May 10, 2022 |
| Piper Sandler | Weston Twigg | $14 | $7.46 | -92.4% | May 9, 2022 |
| Piper Sandler | Weston Twigg | $16 | $11.12 | -91.4% | Apr 27, 2022 |
| RBC Capital | Rishi Jaluria | $12 | $11.96 | -93.5% | Apr 25, 2022 |
| Monness | Brian White | $20 | $12.42 | -89.2% | Apr 14, 2022 |
| Piper Sandler | Weston Twigg | $15 | $11.87 | -91.9% | Mar 10, 2022 |
| Morgan Stanley | Keith Weiss | $16 | $11.11 | -91.4% | Mar 7, 2022 |
| Deutsche Bank | Brad Zelnick | $15 | $11.02 | -91.9% | Feb 20, 2022 |
| Wolfe Research | Alex Zukin | $9 | $11.02 | -95.1% | Feb 18, 2022 |
| RBC Capital | Rishi Jaluria | $9 | $11.77 | -95.1% | Feb 17, 2022 |
| Jefferies | Brent Thill | $21 | $12.94 | -88.6% | Feb 4, 2022 |
Track every rating change on PLTR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPalantir Technologies Inc. engineers and deploys advanced software platforms primarily for the intelligence community, supporting counterterrorism investigations and operations across the United States, the United Kingdom, and internationally. One such product is Palantir Gotham, a sophisticated software system that enables users to uncover hidden patterns within diverse datasets, from signals intelligence to confidential informant reports. Gotham also facilitates the seamless handover between analysts and operational personnel, helping operators strategize and execute real-world responses to threats pinpointed within the platform.…
Historical context
All PLTR earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the PLTR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-04T15:14:56.416001+00:00
- FN2 earnings calendar · 2026-09-08T01:23:13.784197+00:00
- Polygon adjusted daily market bars · 2026-09-23T04:30:53.615627+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T04:30:53.612869+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.