Still Down 26% in 2026, Is Palantir’s Rebound Just Getting Started? - 24/7 Wall St.

What the report says

24/7 Wall St. reported that Palantir Technologies shares rose about 7% on Monday afternoon to just above $131, even as the stock remained down 26% for 2026. The outlet said the move appeared tied to a broader rebound in enterprise software and AI-related stocks rather than a new Palantir announcement. Salesforce was also reported up 7% and Microsoft up 3%, while Nvidia moved lower, showing a split within the AI trade.

The report highlighted Palantir’s strong recent operating performance. According to 24/7 Wall St., the company’s first-quarter 2026 revenue reached $1.63 billion, an 84.7% year-over-year increase, while adjusted earnings per share of $0.33 beat consensus estimates. The article also cited rapid growth in U.S. commercial revenue, expanded GAAP operating margin, 206 deals of at least $1 million, and full-year revenue guidance raised to roughly $7.65 billion to $7.66 billion.

At the same time, the article framed valuation as the central concern for investors. Palantir was reported to trade at about 148 times trailing earnings, far above the multiples cited for Nvidia, Microsoft and Salesforce. 24/7 Wall St. also noted that Michael Burry, known for “The Big Short,” still has a short position against Palantir based on disclosures from his Substack.

The next major test, according to the report, is Palantir’s second-quarter results, with management guiding for revenue of about $1.797 billion to $1.801 billion. The article said another strong report could support the rebound case, while weaker results could renew scrutiny of the stock’s high valuation.