Key Highlights

• Palantir Technologies shares surged approximately 10.32 percent to $172.01, a gain of $16.09 from a prior close of $155.92, closing near multi-week highs.

• Second quarter revenue grew 93 percent year over year to $1.935 billion, with US commercial revenue up 115 percent to $1.573 billion and US government revenue up 90 percent to $909 million.

• The company delivered a Rule of 40 score of 155, adjusted free cash flow of $1.22 billion (63 percent margin), and raised full-year 2026 guidance, with revenue now expected in excess of $3.424 billion, at least 134 percent growth.

• The move extended gains alongside a broader software-sector snapback rally in the week, with bullish analyst commentary including price target hikes from UBS, Citigroup, Mizuho, and others reinforcing the AI-driven commercial growth story.

Blowout Q2 Results Drive the Rally

Palantir Technologies Inc. (NASDAQ:PLTR) shares closed up 10.32 percent at $172.01, extending post-earnings highs after a blowout second quarter report. Revenue grew 93 percent year over year to $1.935 billion, the highest ever growth rate, while US commercial revenue jumped 115 percent to $1.573 billion and US government revenue rose 90 percent to $909 million.

The company delivered a Rule of 40 score of 155, adjusted free cash flow of $1.22 billion (63 percent margin), adjusted operating income of $1.194 billion (62 percent margin), and GAAP net income of $1.062 billion (55 percent margin), with dollar net retention rising to 157 percent.

Raised Guidance and Analyst Reaction

Closed third quarter 2026 US commercial TCV bookings of $2.132 billion (up 153 percent year over year), total TCV bookings of $3.4 billion (up 49 percent year over year), and 22 deals over $1 million, including 98 deals over $5 million, underscored broad-based commercial momentum, ending the quarter with $13.1 billion total remaining deal value.

Raised full-year 2026 guidance: revenue guidance raised to $8.15 billion to $8.158 billion (82 percent growth), US commercial revenue guidance raised to in excess of $3.424 billion (at least 134 percent growth), and adjusted income from operations guidance set at $4.899 billion to $4.997 billion, alongside adjusted free cash flow guidance of $2.16 billion to $2.196 billion. Management emphasized strategic focus on sovereign AI, enabling customers to own their data and AI infrastructure that depend on frontier labs, citing strong customer wins and growing Maven platform adoption in US government.

What Investors May Watch Next

Market participants are likely to watch continued momentum in US commercial deal bookings and net dollar retention trends, alongside further sovereign AI customer wins in government contracts. The stock's continued upward trajectory following bullish analyst price target hikes from UBS, Citigroup, Mizuho, and others may also be a factor as investors weigh valuation against the pace of growth.

Conclusion

In summary, Palantir Technologies (NASDAQ:PLTR) shares rose approximately 10.32 percent to $172.01 at last closing, extending post-earnings gains driven by 93 percent revenue growth, raised full-year guidance, and a wave of bullish analyst price target hikes. These are the verified facts from the earnings release and market data. Whether the rally proves durable may depend on continued execution on commercial bookings and sustained government demand for the company's sovereign AI platform.