Palantir Technologies (PLTR, Financial) shares soared more than 26% on Tuesday morning after the company produced a stunning earnings report that crushed expectations. The company beat Wall Street’s expectations by posting an earnings per share (EPS) of 14 cents. The company recorded a 36% growth in revenue for the quarter of $827 million, far exceeding the analysts’ estimations of more than $46 million.
The government part of Palantir’s business grew 45% YoY to $343 million, while its commercial business grew 64% YoY to $214 million. The company also closed 129 deals for $1 million or more, including 32 deals for $10 million or more.
No debt, as well as a cash balance of $5.2 billion, make the company’s financial strength undeniable. Palantir now sees full-year 2025 revenue of $3.74 billion to $3.75 billion, up from their prior guidance range of $3.77 billion to $3.8 billion.
Wedbush analysts boosted the price target for Palantir to $120 from $90 based on the company’s strong growth and its leadership in the AI space. As the company continues to lead the artificial intelligence revolution, the trends proposed by Palantir have been unstoppable, so much so that Palantir’s momentum has been nothing short of a 392% return in a year.
This article first appeared on GuruFocus.
