Palantir's shares rose 5.75% over five trading sessions after a prior 19.63% decline and are up 113.95% year-to-date and 1,648.59% since October 2022 IPO. The U.S. Army is consolidating 75 contracts into a single 10-year, $10 billion arrangement with Palantir. In Q2, revenue grew 48% year-over-year and topped $1 billion quarterly for the first time; U.S. government revenue rose 53% to $426 million. Palantir beat earnings at $0.16 per share versus $0.14 expected and raised full-year guidance to $4.142–$4.150 billion. Q1 trends showed 39% revenue growth, strong commercial momentum, and 45% U.S. government growth.
When the company reported earnings on Aug. 4, it announced that revenues saw year-over-year growth of 48% and topped $1 billion in quarterly revenue for the first time ever, while U.S. government revenues rose 53% from the year-ago period to $426 million. Palantir beat on earnings with 16 cents per share versus Wall Street's expectations of 14 cents per share.
While the stock's forward P/E ratio of 256.50 can be concerning, Palantir's federal contracts and aerospace ties are expected to continue fueling growth. While earnings are rear-facing, the emerging trends seen in the company's Q1 results can serve as a foundation for further rewards for shareholders. In the first quarter, Palantir saw year-over-year revenue growth of 39%. U.S. commercial business surpassed a $1 billion run rate, good for 71% year-over-year growth. Meanwhile, its U.S. government revenue grew 45% year-over-year.
In July, Mizuho upgraded Palantir to "Neutral" from "Underperform" with a price target of $135, up from $116. The firm views the company's recent execution and momentum as "stunning," including material upward estimate revisions across Palantir's commercial and government segments, which Mizuho admits to "very much" underestimating. Palantir has a "legitimate chance" to accelerate revenue growth for a fifth consecutive quarter when reporting Q2 results in early Au
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