Why Palantir Technologies Stock Skyrocketed (Again) Today

Why Palantir Technologies Stock Skyrocketed (Again) Today Danny Vena, CPA, The Motley Fool Fri, August 7, 2026 at 7:42 PM GMT+2 2 min read PLTR NVDA Palantir Technologies (NASDAQ: PLTR) stock charged sharply higher Friday, climbing as much as 9. 9%. As of 1:10 p.

m. ET, the stock was still up 9. 4%.

The catalyst that sent the data-mining and artificial intelligence (AI) specialist higher was evolving investor sentiment toward software stocks. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.

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Is the popular narrative wrong? Over the past year or so, investors have become concerned that advances in AI would ultimately decimate the software business, sending many software-as-a-service (SaaS) stocks plunging. Even Palantir, which offers AI solutions that integrate directly with customer data, wasn't immune.

In fact, the stock was hit with a double whammy, as investors weighed concerns about a slowdown in AI spending against the potential for AI to automate tasks previously performed by enterprise software. However, Palantir reported second-quarter results on Tuesday that seemed to counter those fears, sending the stock soaring more than 27% in a single day. Revenue of $1.

94 billion rose 93% year-over-year, the company's highest ever year over year growth rate, driving adjusted earnings per share (EPS) up 156% to $0. 41. The stock got another boost today as several enterprise software companies reported better-than-expected results.

For example, Twilio , which helps enterprises integrate video, voice, and text into their apps, saw its stock surge as much as 31% today (as of this writing) after reporting record profits and cash flow. This helped convince investors that AI likely won't eat all software, at least not anytime soon. Palantir's robust results have helped quell investor fears concerning its valuation, but the stock is still pricey.

However, at 74 times next year's expected earnings, Palantir's triple-digit profit growth helps justify its lofty premium. Should you buy stock in Palantir Technologies right now? Before you buy stock in Palantir Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the  10 best stocks for investors to buy now… and Palantir Technologies wasn't one of them.

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 Don't miss the latest top 10 list, available with  Stock Advisor , and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 7, 2026. Danny Vena, CPA has positions in Palantir Technologies and Twilio.

The Motley Fool has positions in and recommends Palantir Technologies and Twilio. The Motley Fool has a disclosure policy .