Is Palantir (PLTR) Stock a Buy Before Q1 Earnings on Monday?

TLDR

• Palantir reports Q1 2026 earnings on Monday, May 4, after market close
• Wall Street expects EPS of $0.28, up 115% year-over-year
• Revenue projected at a record $1.54 billion, up 74% year-over-year
• Options traders pricing in a ~10% move in either direction post-earnings
• PLTR stock is down over 20% year-to-date heading into the report

Palantir reports Q1 2026 results on Monday, May 4, after the closing bell. The stock is down more than 20% since January, but analysts still see room to run.

Palantir Technologies Inc., PLTR

Wall Street is projecting EPS of $0.28 for the quarter, which would be a 115% jump from the same period last year. Revenue is expected to hit a record $1.54 billion, up 74% year-over-year.

PLTR closed Thursday around $138, with options markets suggesting a swing of roughly 9-10% in either direction by end of week. That puts a potential upside near $152, or a downside closer to $126.

The year-to-date slide in PLTR has been driven by broader concerns around AI software valuations and fears that last year’s massive rally 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 just under $201 — implying more than 40% upside from recent levels.

Baird’s William Power reaffirmed an Outperform rating and a $200 price target ahead of the print. He expects revenue growth to accelerate for the 11th consecutive quarter, fueled by strength in both U.S. Commercial and Government segments.

Power also flagged the recent dip as a potential entry point for investors looking at a high-growth name.

What Analysts Are Watching

Investors will be focused on commercial customer growth, adoption of Palantir’s Artificial Intelligence Platform (AIP), and momentum in government contracts.

Forward guidance from management will also be closely watched, particularly any commentary on how the U.S. government spending environment is shaping up.

Longer-Term Outlook

Baird’s Power sees growth continuing well into 2026 and 2027. He projects free cash flow could reach $7.5 billion by 2027 if execution holds.

The broader Wall Street consensus sits at Hold, based on 15 Hold, five Buy, and two Sell ratings. The average price target of $191.74 implies roughly 37.8% upside.

Palantir’s AIP platform has been a central driver of its commercial business expansion, and Q1 results will offer the latest read on whether that momentum has continued into 2026.

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