What’s happening with Palantir stock this week? – Palantir Technologies (NYSE:PLTR)

Palantir Technologies Co., Ltd. PLTR The stock is trading higher on Friday after hitting new highs this week. Here’s what you need to know:

Details: Palantir on Monday reported third-quarter revenue of $725.52 million, beating expectations of $701.13 million, and earnings of 6 cents per share, beating expectations of 4 cents. Total revenue increased 30% year-over-year, with U.S. commercial revenue up 54% and U.S. government revenue up 40%. CEO Alex Karp added that the company’s growth is “driven by the relentless and unabated demand for AI.”

The stock continued to rise after some analysts commented on Palantir’s growing U.S. customer base and demand for its AI products. Analysts at Wedbush, Mizuho and DA Davidson all raised their price targets, with Wedbush’s Dan Ives citing Palantir’s “solid” performance and AI expansion.

Stocks hit another all-time high on Wednesday as President Donald Trump’s victory fueled market optimism about possible policy shifts that could favor the defense and AI sectors. Palantir has gained 25% over the past week and was seen as a potential beneficiary of the Trump administration’s defense and intelligence priorities.

Palantir shares were also under pressure early on after Jefferies downgraded the stock from “hold” to “underperform” citing valuation concerns. However, the stock rebounded during the day on Thursday after Palantir announced a partnership with Amazon Web Services (AWS) and Anthropic to provide advanced AI capabilities to U.S. defense and intelligence agencies. The partnership will integrate Anthropic’s Claude AI model into Palantir’s AI platform for secure government use.

PLTR Price Action: As of press time, Palantir stock is up 4.60% to $58.44, according to Benzinga Pro.

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