Over the past twelve months, Palantir’s shares have climbed approximately 147%, building on a 1,758% gain since its October 2020 IPO. In Q3 2025 the company delivered revenue of $1.18 billion—7.5% above consensus—while reporting adjusted earnings per share of $0.21 versus $0.17 expected. Despite this string of quarterly beats (seven consecutive EPS beats and nine in ten quarters), Palantir’s stock has exhibited extreme swings, dropping 3.8% over the first weeks of 2026 after a broader rotation out of AI-linked names. Investors should weigh this high growth trajectory against the history of sharp intraday moves and intermittent missed guidance from management.

Government clients remain Palantir’s largest revenue source, accounting for $1.222 billion in 2023 versus $1.002 billion from commercial customers. Key wins include a £1.5 billion UK defense partnership announced in September 2025, a $10 billion software and data contract with the U.S. Army secured in July, and the delivery of a $30 million immigration tracking system to U.S. ICE in April. Palantir’s software-as-a-service platforms—Gotham for large-scale defense and intelligence applications and Foundry for enterprise data management—are now authorized on five U.S. Mission Critical National Security Systems, positioning the firm to capture additional defense spending increases.

Street analysts expect Palantir to grow revenue from an estimated $2.87 billion in 2024 to $8.48 billion by 2030, representing a compound annual growth rate of roughly 19%. Net income is forecast to rise from $0.462 billion in 2024 to $2.99 billion in 2030, with EPS expanding from $0.46 to $1.27 over the same period. Of 17 analysts covering the stock, the consensus rating is “Hold,” with five “Buy” and two “Sell” ratings. The median one-year target implies approximately 12.8% upside, but Palantir’s current price-to-sales multiple above 100x underscores a valuation that remains among the highest in the software sector.