The share price of Palantir (NASDAQ: PLTR) is trading at new record highs as investors anticipate the company’s Q2 earnings report, due after the market close on Monday.
Amid the current momentum, Finbold’s artificial intelligence prediction tool forecasts that PLTR could cross the $160 mark by August 31.
Notably, analysts are expecting another blockbuster quarter, with revenue projected to hit $939.3 million, up nearly 39% year-over-year, marking a second consecutive quarter of nearly 40% growth.
Adjusted earnings per share are estimated at $0.14, a 54% increase from Q2 2024. Commercial software sales are forecast at $425 million, driven by rising demand for AI tools in the private sector. In comparison, government contracts are expected to bring in $513 million, both up 38% from a year ago.
At press time, PLTR stock was trading at $159, up over 3% in the past 24 hours, and up 112% year to date.
PLTR stock price prediction
To project where PLTR stock might trade by the end of August, Finbold’s AI prediction agent used multiple LLMs to generate an average forecast for improved accuracy while incorporating momentum-based indicators into its context. You can experiment with the existing prompts or create your own. Try here now.
According to the tool, Palantir is expected to trade at $164.25 by August 31, implying a modest upside of 2.85% from current levels.
The forecasted average outputs from Claude 3.5 Sonnet and GPT-4o. Claude 3.5 Sonnet issued the more bullish projection at $168.50, a 5.51% upside, while GPT-4o provided a more conservative target of $160.
The AI-powered prediction also factored in technical indicators such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). The MACD shows continued bullish momentum, while RSI levels remain below overbought territory, signaling potential for further upside.
Although the prediction window extends through September 15, the key date to watch is August 31. Ultimately, the stock’s movement will be largely driven by the upcoming earnings report and broader market sentiment.
Featured image via Shutterstock
