Palantir Technologies Inc (NASDAQ:PLTR) reported upbeat financial results for the first quarter of 2026 after the market close on Monday.
Palantir reported first-quarter revenue of $1.63 billion, beating analyst estimates of $1.54 billion. The AI software company reported adjusted earnings of 33 cents per share for the quarter, beating analyst estimates of 28 cents per share, according to Benzinga Pro.
"Palantir's Rule of 40 score has soared to 145%. We have shattered the metric, a feat matched only by other fellow AI infrastructure companies: NVIDIA, Micron and SK hynix," said Alex Karp, co-founder and CEO of Palantir.
Palantir expects second-quarter revenue to be in the range of $1.797 billion to $1.801 billion, versus estimates of $1.679 billion. The company raised its full-year 2026 revenue guidance from a range of $7.18 billion to $7.20 billion to a new range of $7.65 billion to $7.66 billion versus estimates of $7.27 billion.
Palantir shares fell 6.7% to trade at $136.12 on Tuesday.
These analysts made changes to their price targets on Palantir following earnings announcement.
- Rosenblatt analyst John McPeake maintained Palantir with a Buy and raised the price target from $200 to $225.
- DA Davidson analyst Gil Luria maintained the stock with a Neutral and lowered the price target from $180 to $165.
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