Palantir Technologies Inc. (NASDAQ:PLTR) stock rose nearly 2% in Friday’s premarket session as investors extended this week’s post-earnings rally and continued to favor large-cap technology stocks. Nasdaq futures gained 0.56%, while S&P 500 futures advanced 0.25%.
Palantir has rallied sharply since reporting second-quarter results on Monday and raising its full-year outlook on stronger demand for enterprise artificial intelligence software.
The company reported second-quarter revenue of $1.94 billion, up 93% from a year earlier and about $136 million above Wall Street estimates.
Adjusted earnings came in at 41 cents a share, topping the consensus estimate of 35 cents. U.S. customers accounted for 38 of the company’s 44 new clients during the quarter.
The strong results prompted analysts to raise their expectations.
DA Davidson analyst Gil Luria reiterated a Buy rating and increased his price forecast from $175 to $200. Luria said Palantir’s competitive advantages have become more pronounced in the AI era, allowing the company to deliver guidance that exceeded expectations.
The stock carries a consensus Buy rating with an average price forecast of $194.43. Recent analyst actions include:
- UBS: Buy, price forecast raised to $220 on Aug. 4
- Mizuho: Outperform, price forecast raised to $215 on Aug. 4
- Citigroup: Buy, price forecast raised to $245 on Aug. 4
With no fresh company-specific news on Friday, the premarket move appeared to reflect continued optimism following the earnings release and improving sentiment across technology stocks.
Technical Analysis
Palantir remains in a strong uptrend but is trading well above its key moving averages.
The stock sits about 19% above its 20-day simple moving average of $132.78 and nearly 20% above its 50-day SMA of $131.81. It is also about 3.8% above its 200-day SMA of $152.33.
The MACD remains above its signal line with a positive histogram, indicating bullish momentum. However, the extended move could leave the stock vulnerable to short-term consolidation after its recent rally.
The 20-day SMA remains above the 50-day SMA, supporting the near-term trend. However, the 50-day SMA is still below the 200-day SMA, leaving the longer-term “death cross” intact.
Key technical levels include:
- Resistance: $162
- Support: $148
Despite this week’s rally, Palantir remains about 24% below its 52-week high of $207.52 reached in November 2025.
Benzinga Edge Rankings
Benzinga Edge assigns Palantir a Growth score of 95.45, reflecting the company’s rapid expansion. The stock carries a Value score of 1.98, highlighting its premium valuation, while its Momentum score stands at 44.59.
The combination suggests investors continue to pay a premium for Palantir’s growth, although the elevated valuation could increase volatility if growth expectations weaken.
ETF Exposure
Palantir is a significant holding in several exchange-traded funds, including:
- iShares Expanded Tech-Software Sector ETF (BATS:IGV): 8.36% weighting
- Global X Defense Tech ETF (NYSE:SHLD): 7.48% weighting
- First Trust Indxx Aerospace & Defense ETF (NYSE:MISL): 7.75% weighting
Strong inflows or outflows in these funds can influence demand for Palantir shares because of their sizable portfolio allocations.
Price Action
PLTR Stock Price Activity: Palantir Technologies shares were up 1.46% at $158.20 during premarket trading on Friday, according to Benzinga Pro data.
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