Palantir Shares Rise After 93% Revenue Jump as DA Davidson Lifts Target to $200
Updated
Updated · Benzinga · Aug 5
Palantir Shares Rise After 93% Revenue Jump as DA Davidson Lifts Target to $200
3 articles · Updated · Benzinga · Aug 5
Summary
$163.05 shares edged up 0.24% after Palantir posted Q2 revenue of $1.94 billion and adjusted EPS of 41 cents, beating analyst estimates of 30 cents.
A roughly $136 million revenue beat and 38 U.S. clients among 44 new customers reinforced signs of accelerating demand, especially as AI strengthens Palantir's software edge.
DA Davidson's Gil Luria reiterated a Buy rating and raised his price target to $200 from $175, saying company guidance came in substantially above expectations.
Momentum remains stretched: the stock trades 25.6% above its 20-day SMA, RSI stands at 72.74 in overbought territory, and traders are watching $163.50 resistance and $148 support.