Palantir (NASDAQ:PLTR) has been on a winning streak lately, with its stock soaring 5% today and nearly 30% since the start of the week. This surge comes on the heels of an exceptional earnings report that exceeded expectations across the board.
In the second quarter, Palantir reported a 27% revenue growth to $678 million, surpassing analysts’ estimates. The company’s government revenue saw a 23% increase to $371 million, while commercial sales grew by 33% to $307 million. Palantir also provided strong guidance for the third quarter, projecting revenue between $697 and $701 million.
Following the earnings report, several analysts raised their price targets for PLTR stock. Goldman Sachs increased its target to $16, citing Palantir’s unique position in the AI market. Bank of America raised its target to $28, emphasizing Palantir’s leadership in the industry.
Overall, Palantir’s impressive performance and outlook have garnered positive attention from analysts, signaling a bright future for the company. Investors should take note of Palantir’s momentum and consider the potential for long-term growth in the AI sector.
Disclaimer: The opinions expressed in this article are those of the writer and do not reflect any positions held by the author or the publication.
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