Palantir trades at 153.2 times trailing earnings versus 23.0 for the S&P 500, and the article says buyers appear to be betting on sustained expansion. In the second quarter of fiscal 2026, U.S. commercial revenue was $764 million, up 149% year over year, faster than the 90% growth in U.S. government sales. U.S. commercial bookings rose 153% to a record $2.132 billion, though the article notes bookings count full contract values, some spanning three years. Management expects U.S. commercial revenue above $3.424 billion in 2026, growth of at least 134% and about 42% of its $8.15 billion to $8.158 billion revenue forecast, and aims for the whole company to grow at least as fast as that segment over 18 months. Shares rose 54.6% from July 22 to October 20, 2026, versus 3.1% for the index.
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