Palantir's beat-and-raise for fiscal Q4 isn't enough for investors today
Palantir Technologies Inc (NASDAQ:PLTR) is big part of the AI rout today, last seen down 7.3% to trade at $192.09. The data intelligence firm reported adjusted fiscal fourth-quarter earnings of 21 cents per share on $1.18 billion in revenue, both of which topped forecasts. T
The company even hiked its full-year guidance, but the report wasn't convincing enough for Wall Street's lofty expectations. Aside from the valuation concerns, famous hedge fund manager of Big Short fame Michael Burry disclosed a massive purchase of put options.
The price action hasn't stopped eight analysts from hiking their price targets though, the highest coming from Piper Sandler to $225. The shift is overdue; of the 21 brokerages covering PLTR, 17 maintain "hold" or worse ratings, while the consensus 12-month price target of $177.48 is a 7.2% discount to its current perch.
Despite today's drawdown, Palantir stock is still 153% higher in 2025 and hit a record high of $207.52 yesterday. So far, the pullback is contained within a channel of higher highs carved from the shares' April lows around $75.
Calls have been popular. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PLTR sports a 10-day put/call volume ratio of 1.66 that ranks in the 94th annual percentile.
Even amid Burry's big bet, at last check, over 448,000 call contracts have changed hands, volume that's triple the average intraday amount. The weekly 11/7 200-strike call is the most popular, while new positions are also opening at the February 2026 160-strike call.