Palantir Technologies (PLTR) is expected to report "solid" Q2 revenue growth and raise its full-year outlook when it releases its quarterly financial results on Aug. 3, Oppenheimer said in a note Monday.

The investment firm expects Q2 revenue to rise about 85% from a year earlier, above the 79% midpoint of the company's guidance. Palantir is also expected to increase its full-year growth forecast to more than 75% from its current projection of 71%, according to the note.

Palantir's US commercial business remains strong, with revenue expected to grow at least 135% in Q2 and 125% for the full year, Oppenheimer said, adding it expects Palantir to raise its US commercial outlook, while viewing international expansion as a longer-term opportunity.

The company launched new agentic artificial intelligence tools at DevCon 6 to reduce reliance on external software and speed up deployment. The firm said it expects "further innovation" to help the company capture growing AI demand.

Oppenheimer reiterated an outperform rating on Palantir Technologies, with a price target of $200.

Shares of Palantir Technologies were up 3.2% in Monday trading.

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