After hitting resistance at a 185.75 buy point in a cup with handle, Palantir Technologies (PLTR) popped out to a record high early Monday. The artificial intelligence-fueled data analytics company has also secured a spot on the Investor’s Business Daily Leaderboard.
Showing its status as an AI juggernaut, Palantir stock has pulled off an impressive trifecta, landing a spot on the IBD 50, IBD Big Cap 20, and IBD Sector Leaders, IBD’s most stringent screen. Palantir also joined fellow AI leaders Nvidia (NVDA), Broadcom (AVGO), and Alphabet (GOOGL) on the latest list of new buys by the best mutual funds. But with shares soaring to new heights, Palantir has earnings on tap for Nov. 3, a reminder for investors to heed rules for how to buy stocks and when to sell.
Palantir Stock: What Investors Need To Know
AI Fuels Impressive Growth
Over the last eight quarters, Palantir has generated quarterly sales growth ranging from 17% to 48%. Notching its eighth straight quarter of accelerating growth, the company delivered a 48% year-over-year rise in sales to just over $1 billion. Earnings rose 78% to 16 cents per share.
When Palantir reports third-quarter earnings on Nov. 3, Wall Street forecasts a 68% earnings surge to 17 cents a share on a 50% sales increase to $1.09 billion.
For the full year, analysts expect earnings to rise by 58% to 65 cents per share, followed by a 30% gain to 84 cents a share in 2026.
Palantir Stock Orbits Buy Zone
Trading above its 21-day exponential moving average and its 50-day line, Palantir has bounced back into a buy range of 185.75 to 195.04.
The bounce-back comes after Palantir initially broke out on Oct. 2 then ran into resistance and retreated. But the AI leader showed resilience, ultimately forging support at its 21-day and 50-day lines.
While still shy of a 52-week high, Palantir’s relative strength line has perked up as the stock has strengthened its footing.
With earnings ahead due next week, shares are up over 3% to kick off the new week.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
YOU MAY ALSO LIKE:
Breakout Watch: Why Nvidia, Apple, Meta And Others Use This AI Brain
Nvidia Returns, Palantir Remains As Top Funds Bank On This Stock
How To Read Stock Charts
See Which Stock Just Came On – And Off – These Premier Stock Screens
Find Timely Stock Ideas With This Newsletter
