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Date

August 7, 2025

Category

Market Insights

Palantir Gets Price Target Upgrades After a Blowout Q2

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Palantir is one of the hottest stocks in the market at present. Year to date, it’s up about 130%. Looking at the artificial intelligence company’s Q2 earnings1 – posted on August 4 – it’s easy to see why investors are excited about the stock. Right now, this company isn’t just performing; it’s delivering unprecedented levels of growth.

Phenomenal Q2 Earnings

For the second quarter of 2025, Palantir’s revenues came in at $1.004 billion, well ahead of the consensus estimate of $940 million2. That represented growth of 48% year on year. Growth was again driven by a very strong performance in the US, where revenue was up 68% year on year to $733 million. Breaking US revenue down, commercial revenue grew 93% year over year to $306 million while government revenue increased 53% year over year to $426 million.

Source: Palantir – Q2 2025 Investor Presentation, as of August 4, 2025

In terms of profitability, adjusted income from operations came in at $464 million, representing a 46% margin. Adjusted earnings per share were $0.16, compared to $0.09 a year earlier. Zooming in on the company’s “rule of 40” score (revenue growth plus profit margin), it was a high 94%. So, the story here is not just about top-line growth.

Source: Palantir – Q2 2025 Investor Presentation, as of August 4, 2025

On the back of this phenomenal performance, Palantir raised both its Q3 and full-year guidance. For Q3, it now expects year-on-year growth of 50%. Meanwhile, for 2025, it now anticipates year-on-year growth of 45%. It also raised its guidance for adjusted income from operations (to between $1.912 and $1.920 billion) and adjusted free cash flow (to between $1.8 and $2.0 billion).

Bullish Outlook

As usual, Palantir’s quarterly letter to investors3 was entertaining. Some highlights are below:

Clearly, management is confident that the company can continue to deliver strong growth.

PLTR Price Target Increases

Since the Q2 earnings report, a number of Wall Street analysts have increased their price targets for Palantir stock. Wedbush’s Dan Ives4 has lifted his target from $160 to $200 – a Street high – citing surging demand for the company’s Artificial Intelligence Platform (AIP). Meanwhile, Bank of America Securities analyst Mariana Perez Mora5 has increased her target from $150 to $180. Loop Capital’s Mark Schappel6 has also gone to $180.

It should be pointed out, however, that not all analysts are so bullish on PLTR. While analysts at RBC7 raised their price target after the Q2 earnings report, they only increased it to $45. They maintain an “underperform” rating on the stock due to concerns about the durability of momentum driven by Palantir’s AI platform. Their view is that at current levels, PLTR offers an “unfavorable risk-reward” profile.

Footnotes:

1Palantir Investor Relations, Palantir Reports Q2 2025, as of August 4, 2025

2CNBC, Palantir tops $1 billion in revenue for the first time, boosts guidance, as of August 4, 2025

3Palantir Letter to Shareholders, as of August 4, 2025

4TradingView, PLTR: Wedbush Sees Palantir Hitting $200 as AI Momentum Turns Explosive, as of August 5, 2025

5TIPRANKS, Palantir price target raised to $180 from $150 at BofA, as of August 5, 2025

6StreetInsider.com, Palantir Technologies Inc. (PLTR) PT Raised to $180 at Loop Capital, as of August 5, 2025

7StreetInsider.com, Palantir Technologies Inc. (PLTR) PT Raised to $45 at RBC Capital, as of August 5, 2025

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