Palantir Technologies (PLTR) is poised for another revenue beat and annual guidance raise in its upcoming Q3 report, with continued commercial and government strength driving a solid quarter, Oppenheimer said in a Thursday note.
The company is scheduled to report its Q3 results Monday.
Oppenheimer expects US commercial revenue growth of more than 140% and total government growth of more than 65%, supported by new-customer adoption, broader deployments of its AI Platform, and sustained demand for defense and mission-critical applications, according to the note.
The firm said it remains constructive on both commercial expansion and government demand, with governance, reliability, and sensitive data handling reinforcing the company's competitive positioning.
Palantir's differentiation comes from connecting fragmented enterprise systems into an operational framework, rather than providing another model or analytics tool, according to the note.
Replicating such an architecture would require multiple products and substantial rebuilding, supporting the view that switching costs deepen as customers integrate additional operational workflows, Oppenheimer said.
Oppenheimer maintained its outperform rating and raised its price target to $235 from $200.
Shares of Palantir were down more than 1% in Thursday afternoon trading.
Price: 194.46, Change: -2.35, Percent Change: -1.19
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