Palantir reported a 71% increase in U.S. commercial revenue and a 45% gain in U.S. government revenue in the period, showing that both businesses are booming. The company recorded a record level of U.S. commercial total contract value of $810 million -- up 183% year over year.

Palantir stock has been on a tear in 2025, rising more than 40% even after Tuesday's big drop. Analysts have expressed concerns about the AI firm's valuation.

Live Updates Live Coverage Has Ended Palantir May Have Another 18% of Upside 1:12 pm Using the high-end of analyst price targets ($140). Palantir could see another 18% upside. Helping, analysts at Wedbush just raised their price target to $140 from $120,