Palantir’s Q3 2026 results, released November 2, drove recent sentiment, with revenue reaching $2.31 billion—up 96% year-over-year and above the $2.18 billion consensus—while adjusted EPS of $0.44 beat estimates. U.S. commercial revenue surged 148% to $984 million, surpassing U.S. government sales for the first time and prompting an upward revision of full-year 2026 revenue guidance to $8.53 billion. Operating margins expanded to 47% GAAP and 62% adjusted, supported by $1.22 billion in free cash flow. Shares, trading near $160 as of November 7 after post-earnings volatility, reflect a premium valuation on elevated AI demand, though shorter contract durations and high expectations introduced near-term pressure. Analysts’ consensus price targets cluster around $217–$228, with focus shifting to Q4 execution and sustained commercial momentum into year-end.