Palantir Technologies ($PLTR) rose on May 05, 2026. Here's the breakdown of what drove the move and what traders are watching next.
What Happened
Crushed Q1 earnings, raised FY guidance to $7.66B, but stock fell -6.75%
The Bull Case
Record Q1 sales; raised full-year revenue guidance; strong AI/government demand; insider ownership 8.44%
The Bear Case
Stock fell despite blowout earnings (contrarian sell signal); Michael Burry's Big Short 2.0 targets PLTR; P/E of 152.97 is extremely elevated; RSI at 42.80 suggests consolidation
Price Target & What to Watch
$185.61 (vs. current $136.17)