Cryptocurrency punters are growing optimistic that Palantir Technologies, Inc. (NASDAQ:PLTR) will hit $150 and beyond this month, following the company’s blowout second-quarter results and raised outlook.
PLTR’s Big Rally Incoming?
The betting crowd on Polygon (CRYPTO: POL)-based Polymarket currently assigns a 84% chance to the possibility, up from 48% the day before.
Similarly, the odds of PLTR reaching $156 or higher jumped from 28% to 62% over the past 24 hours. The probability of the stock climbing above $160, the price it last closed at more than two months ago, surged to 62%.
Palantir Posts Better-Than-Expected Financials
The jump in odds comes after the AI software company blew past expectations for second-quarter earnings and revenue.
Total revenue exploded 93% year-over-year, while U.S. revenue grew 115% year-over-year to $1.57 billion.
Palantir expects third-quarter revenue to be between $2.16 billion and $2.164 billion, topping analysts’ estimate of about $2 billion.
It also raised its full-year 2026 revenue guidance from a range of $7.65 billion to $7.66 billion to a new range of $8.15 billion to $8.16 billion, versus estimates of $7.69 billion.
Price Action: Palantir shares were up 15.56% in pre-market trading after closing 2.10% higher at $125.65 during Monday’s regular trading session. Year-to-date, the stock has plunged nearly 30%.
Benzinga’s Edge Stock Rankings indicate that the PLTR stock has underperformed with a weaker price trend across short-, medium-, and long-term timeframes.
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