Palantir Crushes Earnings in Q2. Is the Stock Heading Back to $200?

Palantir Technologies reported second-quarter revenue of $1.9 billion, up 93% year-over-year, and adjusted earnings per share of 41 cents, both beating analyst estimates. The company raised its full-year revenue guidance to a range of $8.15 billion to $8.158 billion.

The stock now trades at more than 80 times forward earnings, a valuation premium that underscores investor conviction in the AI platform provider's growth trajectory. Despite the elevated multiple, some observers see a path to $200 per share, implying 24% upside from recent levels.

The guidance raise marks the second consecutive quarter Palantir has lifted its full-year outlook, reinforcing momentum in both its commercial and government segments. Revenue growth at 93% represents one of the highest expansion rates among large-cap software names.