Post-Q2 Earnings Surge and Valuation Debate

Palantir's 93% Q2 growth, $2.132 billion of U.S. commercial bookings, 157% net retention, and approximately $8.154 billion 2026 revenue guidance sustain the bullish operating narrative. Further analyst target increases, including a reported $250 DA Davidson target, add sentiment support but no operating evidence; valuation near 99–149 times forward or non-GAAP earnings leaves the stock highly sensitive to any growth or margin slowdown. November 9 earnings remain the key test.