Palantir Technologies (NYSE: PLTR) is preparing to unveil its third-quarter 2025 financial results after the closing bell on November 3, in what could mark a defining moment for the artificial intelligence software pioneer.

The stock has surged more than 150% since January, reflecting the market’s growing conviction that Palantir is evolving from a government contractor into a global AI powerhouse.

At Friday’s close, Palantir shares traded at $200.47, up 3.04% on the day, with pre-market quotes already pushing toward $205. With a market capitalization of $475.5 billion, Palantir now ranks as the 21st largest company in the world, positioned between Exxon Mobil and Netflix – a symbolic milestone that underscores how central the company has become in the race to commercialize artificial intelligence at scale.

Analysts Brace for Major Growth Numbers

Expectations for the quarter are sky-high. The Zacks Consensus Estimate calls for earnings per share of $0.17, representing a 70% jump from last year’s third quarter, while revenue is forecast to climb 50.6% year-over-year to roughly $1.09 billion.

Growth is expected to be broad-based, fueled by both government and commercial operations. Consensus estimates put government revenue around $602 million, up 47% year-over-year, and commercial revenue near $493 million, up 56%. Palantir’s own guidance projects revenue between $1.083 billion and $1.085 billion, marking its strongest quarterly outlook to date. Several analysts believe results could even exceed that range, pointing to accelerating adoption of Palantir’s AI-driven platforms among enterprise clients.

Technical Indicators Point to Overheating Momentum

From a technical standpoint, Palantir has entered overextended territory but continues to show resilience. The stock’s RSI sits near 67, a level that signals strong momentum but also a potential cooling period ahead if results disappoint. Meanwhile, the MACD indicator remains firmly positive, confirming bullish momentum.

Trading activity has intensified dramatically, prompting CNBC’s Jim Cramer to comment on X that “the amount of Palantir trading near 204 is insane” just hours before the report. The stock’s sharp rise suggests traders are positioning for another earnings beat – but it also raises the stakes if expectations fall short.

The amount of Palantir trading right here right now all the way up near 204 is insane. This company, which i do like, reports tonight… Why do you need to get the jump on something this badly?

— Jim Cramer (@jimcramer) November 3, 2025

Analyst Sentiment Turns Cautiously Optimistic

Wall Street remains split between excitement and restraint. Citigroup’s Tyler Radke recently raised his target to $190 with a Neutral rating, while BofA Securities’ Mariana Perez Mora maintained a Buy rating and lifted her target to $215. HSBC, Goldman Sachs, and DA Davidson have also raised their targets, citing Palantir’s sustained contract growth, AI partnerships, and increasing profitability.

Still, some analysts caution that Palantir’s valuation – now north of 100x forward earnings – leaves little room for error. The consensus is that tonight’s earnings could determine whether the stock’s remarkable rally is sustainable or due for consolidation.

NVIDIA Partnership Adds Strategic Tailwind

Another factor driving optimism is Palantir’s recent partnership with NVIDIA, announced on October 28. The collaboration aims to integrate Palantir’s Ontology framework with NVIDIA’s AI computing stack, creating what NVIDIA’s CEO called “the single most important enterprise stack in the world.” The announcement has since gone viral, amassing over 36 million views online and strengthening the narrative that Palantir sits at the center of the enterprise AI revolution.

Palantir ? NVIDIA

"This is probably the single most important enterprise stack in the world, the Palantir Ontology." pic.twitter.com/jVZfAKfgWn

— Palantir (@PalantirTech) October 28, 2025

This partnership not only enhances Palantir’s software ecosystem but also deepens its credibility among institutional and industrial clients seeking scalable AI infrastructure.

Earnings Could Redefine Valuation

Despite a -5.88% Earnings ESP suggesting a slight risk of underperformance, Palantir’s track record inspires confidence. The company has exceeded expectations in three of its last four quarters, delivering an average surprise of 13.17%. Another beat could cement its position as a flagship name in AI enterprise solutions, while even a mild miss could trigger a volatile reaction given the elevated expectations.

Palantir’s ascent to the top 25 global companies has been rapid – and tonight’s results will reveal whether the AI-driven growth story still has room to run, or if investors have already priced in perfection.