Palantir Stock Surges - Alex Karp Says This Is Just The Beginning

Palantir Technologies (NASDAQ: PLTR) reported second-quarter 2026 earnings before the bell Tuesday, delivering a blowout beat across every key metric and sending shares surging as much as 17% in premarket trading. Q2 results: Revenue came in at $1.94 billion versus the $1.80 billion analyst estimate. Adjusted EPS hit 41 cents, ahead of the 35-cent consensus. Adjusted free cash flow margin was 63%, and the company posted a Rule of 40 score of 155. Guidance raise: Full-year 2026 revenue guidance was raised from $7.65 billion–$7.66 billion to $8.15 billion–$8.16 billion, well above the $7.69 billion Street estimate. Q3 revenue is guided to $2.16 billion–$2.164 billion versus $1.997 billion expected. CEO Alex Karp appeared on CNBC to explain the growth driver: sovereign AI. Karp described it as an approach that lets customers governments and enterprises own and control their AI capabilities and the value created from deployments, rather than depending on third-party open or closed-source model providers. He said the strategy helped drive 93% business growth overall, with U.S. revenue up 115% and U.S. commercial revenue up nearly 150% year over year. U.S. commercial booking value rose 158%, up from 47% in the prior quarter. Analyst reaction: Deutsche Bank upgraded PLTR from Hold to Buy with a $200 target. Piper Sandler maintained Overweight with a $230 target. Rosenblatt maintained Buy at $225. The average analyst price target stands at $187.17. Palantir was trading around $155 at the time of recording. #PalantirStock #PLTR #Earnings 🌐 Find more market-moving insights at https://www.benzinga.com — your one-stop destination for the latest financial news, data, and expert analysis to stay ahead of the markets. 🖥️ Want the same tools the pros use—without the $10K Bloomberg terminal? Benzinga Edge gives you real-time portfolio alerts, weekly stock picks, and pro-grade research in one command center. 👉 https://bit.ly/4unSKiB ------------------------------------------------------------------------------------ 📲 Follow us on socials @benzinga 🔔 Subscribe To The Channel: https://www.youtube.com/@Benzinga ------------------------------------------------------------------------------------ ⚠️ Disclaimer: Investing in financial markets carries risk, and there are no guaranteed returns. All information is for educational purposes only and should not be taken as financial advice. Always do your own research and speak with a qualified financial advisor before making investment decisions. Only invest what you can afford to lose. Past performance does not guarantee future outcomes.