New York, February 23, 2026, 07:17 ET — Premarket
- Palantir fell about 1.4% before the bell, after closing Friday at $135.24.
- Appetite for risk faded from growth stocks, with renewed U.S. tariff uncertainty back in focus.
- This week’s spotlight falls on earnings from big AI and software companies, with traders looking for any hints about enterprise IT budgets.
Palantir Technologies Inc (PLTR) slipped 1.4% in premarket action Monday, quoted near $133.33 after closing out last week at $135.24. Volume before the open came in a touch above 153,000 shares.
Fresh trade nerves hit traders after President Donald Trump announced a new 15% global tariff, despite the Supreme Court’s move Friday to scrap most of last year’s tariffs. “It’s really hard … to know how do you plan,” said Arthur Laffer Jr., president of Laffer Tengler Investments, as uncertainty continues to cloud suppliers and the broader supply chain. Nvidia’s earnings are set for Wednesday; results from Salesforce and Intuit are also on deck. The S&P 500 software and services index has already taken a notable hit this year. Reuters
Palantir CEO Alex Karp is looking to sell 403,025 shares, according to a Form 144 filing that dropped late Friday. The haul? About $53.9 million at current prices. Form 144 lets insiders flag when they plan to shed restricted shares under Rule 144.
Palantir’s most recent earnings report dropped on Feb. 2, with fourth-quarter revenue jumping 70% to $1.41 billion. U.S. commercial business more than doubled—up 137% to $507 million. “We are an n of 1,” CEO Alex Karp said in the statement. The company put its 2026 revenue forecast between $7.182 billion and $7.198 billion, while cautioning that broader macro pressures, like tariffs, could disrupt its customers and partners. SEC
The company listed about 2.29 billion Class A shares outstanding as of Feb. 10, according to its annual filing published Feb. 17.
Palantir, known for its data-analysis software, counts both government agencies and corporations among its customers. Lately, its AI-driven products have made the stock a high-beta play on enterprise AI spending: shares can rocket on strong growth signals, but they’ve also been hit hard when investors pull back on risk.
At the moment, the stock trades in sync with broad macro swings—not its own fundamentals. When tariffs or growth worries flare up, investors waste no time unloading pricey software names, with real company numbers taking a back seat until later.
Things can shift quickly. If tariff headlines turn into real restrictions that curb budgets or delay IT deployments, Palantir could watch its multiple contract once more—even as revenues keep rising.
Investors are pressing for details: when the tariff plan rolls out, what the legal language looks like, how real the threat is for corporate planning. There’s also some focus on insider sale notices—traders are watching if those filings translate into heavier selling once the market’s back to normal liquidity after the open.
Nvidia is set to report its quarterly earnings on Feb. 25—a date investors have marked as they hunt for any signals about current AI demand. The implications go further than Nvidia’s results. For software names tied to enterprise AI spending, Nvidia’s commentary offers clues they can’t afford to miss.
