Palantir Stock Holds Below Key Averages Ahead of Earnings

Shares of Palantir Technologies traded cautiously on Wednesday, July 29, 2026, as investors awaited the company's second-quarter earnings report scheduled for August 3. The stock closed at $123.75, remaining below several key technical resistance levels and reflecting a market sentiment divided between bullish growth expectations and concerns over valuation and near-term momentum.

The stock's performance followed a volatile week. On Monday, July 27, shares rose 7% to close at $131.53, buoyed by a bullish analyst note. However, by Tuesday, July 28, the stock had retreated, closing down 6.1% after a separate research report hinted at potential weakness in commercial customer spending. This back-and-forth action has kept the stock range-bound, with technical analysis suggesting a short-term trading band between approximately $117 and $130.

Analyst opinions remain sharply divided ahead of the earnings release. Firms like Oppenheimer and Baird have reiterated outperform ratings with price targets of $200, forecasting robust year-over-year revenue growth of around 85% and highlighting strong momentum in both commercial and government sectors. They project commercial revenue growth...