New York, May 4, 2026, 08:02 EDT
Palantir Technologies is set to report first-quarter earnings after the U.S. market closes Monday, with PLTR stock options implying a potential 9% move—up or down—by week’s end. The company will webcast its results at 5:00 p.m. ET.
This report has implications beyond just Palantir. With Google, Microsoft, and Amazon already highlighting AI’s ongoing boost to cloud revenues, the focus now turns to whether companies like Palantir and ServiceNow can actually translate that AI momentum into stronger pricing and faster growth.
Software names caught a late-week bounce. Palantir tacked on 3.6%, finishing Friday at $144.06, after upbeat results and guidance from the likes of Atlassian and Twilio sent the SaaS group higher, according to StockStory. That’s subscription-based software accessed online.
Wall Street isn’t making it easy. The Street is looking for first-quarter revenue near $1.54 billion, which would be a jump of about 74% year over year. Adjusted earnings are pegged at 28 cents per share. Both U.S. government contracts and commercial sales are expected to post strong growth.
Palantir’s software helps governments and businesses wrangle big data and put it to work. The Artificial Intelligence Platform—AIP for short—has become the main attraction for investors. Reuters’ profile calls AIP “a system for activating AI inside an organization.” Reuters
Bulls aren’t backing off. Dan Ives at Wedbush maintained his Outperform call and $230 price target ahead of the results, citing “another robust quarter” on deck. According to Ives, his team’s field checks pointed to “unprecedented demand” for AIP among both commercial and government clients. Benzinga
Baird’s William Power isn’t backing down from his bullish stance, sticking with an Outperform and a $200 price target. The firm sees an 11th consecutive quarter of revenue acceleration as likely and puts 2027 free cash flow at $5.76 billion, though there’s a scenario where that hits $7.5 billion.
Government contracts are still a big slice of the picture. Back in April, the U.S. Department of Agriculture inked a $300 million blanket purchase deal with Palantir to help drive the National Farm Security Action Plan and overhaul farmer services. USDA Chief Information Officer Sam Berry said the partnership boosts the agency’s “visibility and speed” as it tries to safeguard the food supply. Reuters
Just ahead of earnings, Oppenheimer weighed in bullishly, launching coverage of Palantir with an Outperform rating and a $200 price target. Analyst Param Singh pointed to the company’s software as tough to dislodge once installed, writing, “barriers to migration become insurmountable” after clients have integrated it into their workflows. TradingView
The setup has a downside, too. HSBC’s Stephen Bersey took Palantir down to Hold from Buy, chopping his price target to $151 from $205. He pointed to a rising threat from players like OpenAI and flagged that fresh AI tools could chip away at Palantir’s traditional edge. It’s a risk investors have seen before—back in May 2025, Palantir tumbled more than 13% post-earnings, with even a higher outlook not enough to clear the Street’s bar.
Monday isn’t really about debating Palantir’s AI credentials—it’s about watching whether the company can actually convert all that AI buzz into sales, fresh deals, and enough pricing clout to justify its lofty software valuation. We’ll find out after the close.
