Wall Street Is Paying Attention to Palantir (PLTR) Again

Wall Street Is Paying Attention to Palantir (PLTR) Again Angelica Ballesteros Tue, August 4, 2026 at 10:52 PM GMT+2 3 min read PLTR Palantir Technologies Inc. (NASDAQ:PLTR) soared by 29. 45 percent on Tuesday to close at $162.

66 apiece, after reporting a stellar earnings performance that exceeded analyst expectations and posting a highly optimistic outlook that signaled its AI-driven software platforms remain strong. In an updated report, the company said that its net income attributable to shareholders in the second quarter of the year rocketed by 225 percent to $1. 06 billion from only $326.

7 million in the same period last year. Revenues nearly doubled to $1. 9 billion from only $1 billion year-on-year, thanks to a 115 percent jump in US revenues at $1.

573 billion. Of the total, revenues from its government contracts contributed the larger chunk at $809 million while revenues from commercial segment stood at $764 million, marking a year-on-year jump of 90 percent and 149 percent, respectively. "Demand for AI sovereignty has now been unleashed.

And Palantir is the only company that has demonstrated it can transform tokens into actual economic value. Our customers trust us to provide them with maximal control over their operations, data, and decisions. Their competitive advantage should never become the training data for future models," Palantir Technologies Inc.

(NASDAQ:PLTR) CEO Alex Karp said. Photo by Tima Miroshnichenko on Pexels Over 80% Growth in Q3, FY Revenues Encouraged by the strong results, Palantir Technologies Inc. (NASDAQ:PLTR) posted a highly optimistic outlook for both the third quarter and full-year 2026.

For the third quarter alone, revenues were projected to jump by 83 percent to a range of $2. 16 billion to $2. 164 billion from the $1.

181 billion posted in the same period last year. Adjusted income from operations were targeted at $1. 292 billion to $1.

296 billion, or an implied year-on-year growth of 115 percent to 115. 6 percent from $601 million. For the full-year period, Palantir Technologies Inc.

(NASDAQ:PLTR) raised anew its revenue growth outlook to a range of $8. 15 billion to $8. 158 billion, or an implied growth of 82 percent from the $4.

475 billion posted in 2025. The company had earlier expected full-year revenues to reach $7. 65 billion to $7.

662 billion, or an implied 70. 9 percent to 71 percent jump year-on-year. More Hedge Funds, Lesser Conviction More institutional investors participated in the company's shares in the first quarter of the year, albeit conviction notably weakened.

Data from Insider Monkey showed that during the period, 96 hedge funds held positions in Palantir Technologies Inc. (NASDAQ:PLTR), up from 89 in the quarter prior. Story Continues However, their collective holdings fell by 15.

5 percent to $8. 87 billion from $10. 5 billion quarter-on-quarter, signaling that while more professional investors are seeking exposure to the company's long-term growth story, many have trimmed their stakes, signaling a cautious stance.

While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the   best short-term AI stock . READ NEXT:  33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy .

Disclosure: None. Follow Insider Monkey on Google News .