According to Cowen Research, Palantir reported Q2 revenue of $1.95 billion, a 93% year-over-year increase, exceeding market expectations by 7%. The stock rose 15% in after-hours trading following the earnings release. U.S. commercial business revenue grew 150% year-over-year, accelerating from 133% in the prior quarter. U.S. government business revenue increased 90% year-over-year, also surpassing the 84% growth seen in Q1. The average revenue per top 20 customers reached $124 million (up 67% YoY), with total contract value at $2.1 billion (up 118% YoY) and a net dollar retention rate of 157%. Goldman Sachs raised its 12-month price target from $183 to $204, maintaining a Neutral rating, implying approximately 62% upside potential. Goldman Sachs believes enterprise AI deployment is shifting from single models to multi-model frameworks, and demand for sovereign AI is creating new growth opportunities. Palantir’s positioning—helping enterprises embed AI into workflows while retaining data control—could serve as a catalyst for its next phase of growth. Goldman Sachs also raised its revenue forecasts for 2026 through 2028, citing concern that commercial business growth may slow amid macroeconomic weakness.
Palantir Q2 Revenue Exceeds Expectations; Goldman Sachs Raises Price Target to $204
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Summary
Palantir’s Q2 revenue reached $1.95 billion, a 93% year-over-year increase, surpassing estimates by 7%. U.S. commercial revenue rose 150% year-over-year, while government revenue increased by 90%. The top 20 clients generated an average of $124 million in revenue, and total contract value hit $2.1 billion. Goldman Sachs raised its price target to $204, citing growth in AI deployment and data control. As altcoins gain traction, crypto price movements remain sensitive to macro trends. The company raised its 2026–2028 revenue forecasts but warned of potential commercial slowdowns.
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