Palantir reported third-quarter revenue of $1.18 billion, up 63% year over year, driven by a 121% surge to $397 million in U.S. commercial sales, which now account for roughly one-third of total revenue. Government contracts remain a core component, but the rapid acceleration in enterprise adoption underscores Palantir’s expanding market footprint across financial services, healthcare and industrial clients. Management reaffirmed that its Artificial Intelligence Platform continues to win multi-year deals, including several six-figure annual contracts with new Fortune 500 customers, positioning the company for continued double-digit top-line growth.

Palantir trades at approximately 110 times trailing sales and over 160 times forward earnings, among the steepest multiples in the software sector. Of the 26 analysts covering PLTR, five rate it a buy, 16 a hold and two a sell, with a consensus 12-month price target of $190 implying about 14% upside. Bank of America, Morgan Stanley, Citigroup, Piper Sandler and Wedbush each project targets at or above $200. While the stock’s high valuation leaves limited near-term margin for error, many analysts believe its market share gains and accelerating commercial momentum warrant long-term conviction.