TLDR
- Palantir reports first-quarter 2026 earnings on Monday, May 4, after the market closes
- Wall Street expects EPS of $0.28, up 115% year-over-year
- Revenue is expected to reach a record $1.54 billion, up 74% year over year
- Options traders price in about a 10% move in either direction after earnings
- PLTR stock was down more than 20% year-to-date as the report was released
Palantir reports first-quarter 2026 results on Monday, May 4, after the closing bell. The stock is down more than 20% since January, but analysts still see room for upside.
Wall Street expects EPS of $0.28 for the quarter, which would represent a 115% jump from the same period last year. Revenue is expected to reach a record $1.54 billion, up 74% year over year.
The PLTR closed Thursday near $138, with options markets pointing to a roughly 9-10% swing in either direction by the end of the week. This puts the potential upside near $152, or the downside closer to $126.
Slide year so far Belter This was driven by broader concerns about AI software valuations and concerns that last year’s massive rally has left the stock overextended.
Despite the pullback, most analysts covering the stock remain bullish. Of nine analysts tracked by Visible Alpha, six rate it a buy, with an average price target of just under $201 — implying an upside of more than 40% from recent levels.
Baird’s William Power reiterated an outperform rating and $200 price target ahead of print. Revenue growth is expected to accelerate for the eleventh consecutive quarter, driven by strength in both the commercial and government sectors in the United States.
Power also pointed to the recent decline as a potential entry point for investors looking for a high-growth name.
What analysts are watching
Investors will focus on business customer growth and adoption Palantir Artificial Intelligence Platform (AIP) and momentum in government contracts.
Future guidance from the administration will also be closely watched, especially any comment on how the US government spending environment is shaping up.
Wedbush analysts told clients they believe Palantir has a “golden path to becoming the next powerful software company in the coming years.” Both Wedbush and Baird said they see Palantir beating revenue estimates.
Long-term forecasts
Bird Power sees growth continuing through 2026 and 2027. Free cash flow is expected to reach $7.5 billion by 2027 if implementation continues.
The broader Wall Street consensus is at Hold, based on 15 hold ratings, five buy ratings, and two sell ratings. The average price target of $191.74 suggests an upside of ~37.8%.
Palantir’s AIP platform has been a key driver of its business expansion, and first-quarter results will provide the latest read on whether that momentum has continued into 2026.
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