Palantir Technologies Inc (NASDAQ:PLTR) stock faced volatility on Monday, with the stock falling in the premarket, only to recover losses later.

The pullback follows short-term profit-taking by traders after a blowout weekly advance.

According to Benzinga Pro data, PLTR stock rallied 38% last week despite remaining down 2.17% year-to-date.

Second-Quarter Earnings Beat Estimates

On Aug. 3, Palantir reported second-quarter revenue of $1.94 billion, up 93% year-over-year, topping Wall Street estimates of $1.8 billion. Adjusted earnings reached 41 cents per share against expectations of 35 cents per share.

U.S. revenue surged 115% year-over-year to $1.57 billion, while U.S. commercial revenue jumped 149% to $764 million. U.S. customers represented 38 of the 44 new clients added during the quarter.

Palantir closed 220 deals worth over $1 million, generated $1.22 billion in operating cash flow, and raised its full-year 2026 revenue guidance to between $8.15 billion and $8.16 billion.

CEO Alex Karp described the quarter as “otherworldly,” noting that the company can turn AI into economic value.

Wall Street Analysts Raise Target Forecasts

Following the release, DA Davidson analyst Gil Luria reiterated a Buy rating and raised his price forecast from $175 to $200, describing U.S. demand for AI solutions as “parabolic.”

“Palantir’s competitive advantages have become more pronounced in the AI era,” Luria stated, adding that these advantages allowed the firm to deliver guidance exceeding expectations.

Additional analyst updates included:

  • Citigroup: Buy rating, price forecast raised to $245 on Aug. 4.
  • UBS: Buy rating, price forecast raised to $220 on Aug. 4.
  • Mizuho: Outperform rating, price forecast raised to $215 on Aug. 4.

Palantir Stock: Key Levels and Momentum Analysis

From a trend standpoint, Palantir is still in a strong position: the stock is trading 25% above its 20-day SMA ($135.04) and 10.8% above its 200-day SMA ($152.28), which tells you buyers have controlled the intermediate trend even with this morning’s pullback.

Momentum is the bigger near-term issue, with RSI at 72.77—an overbought reading that often signals the move is getting stretched and more vulnerable to pauses or quick pullbacks.

The moving-average structure is mixed under the hood: the 20-day SMA remains above the 50-day SMA (bullish), but the death cross from February (50-day SMA below the 200-day SMA) is still a longer-term caution flag.

  • Key Resistance: $187.50
  • Key Support: $148

PLTR Price Action: Palantir Technologies shares were up 2.90% at $176.99 at the time of publication on Monday, according to Benzinga Pro data.

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