Palantir Technologies Inc. (PLTR) reported their earnings for the quarter ending on June 30, 2023. They achieved a consensus earnings per share forecasted by 7 analysts of $0.01, which is a 111.11% increase compared to the same quarter in the previous year. Additionally, the 2023 Price to Earnings ratio for PLTR was stated to be 364.00, which is significantly higher than the industry ratio of -1.10. This suggests that PLTR is expected to have a higher earnings growth than their competitors in the same industry.

However, despite the increase in earnings, the stock of Palantir Technologies (PLTR) experienced a decline. Specifically, shares of PLTR dropped by 15% week-to-date through the previous Thursday's market close, even though the stock has more than doubled year to date. One of the primary reasons for this drop was a disappointing second-quarter earnings report that did not meet revenue growth expectations.

Furthermore, a recent article from Bloomberg highlights another issue for the company. Palantir Technologies Inc. provided an annual revenue forecast that was at the low end of prior projections. The Denver-based software maker expects its 2023 revenue to be around $2.21 billion, which is towards the lower end of Wall Street's estimates. This forecast was not well-received by investors, causing the stock to decline by 9% to a price of $16.34 as of the time reported.

Given this information, it is evident that despite an earnings beat in terms of EPS, the stock of Palantir has faced downward pressure due to revenue forecasts that did not align with market expectations. The target price for PLTR after the earnings beat isn't explicitly mentioned in the provided details, so it cannot be directly provided.

In conclusion, while Palantir Technologies displayed a positive EPS growth year-over-year, their revenue growth expectations and forecasts were not received positively by the market, leading to a decline in stock price.