Palantir shares fall about 7% despite Q1 beat and guidance raise

Palantir shares dropped about 7% in midday trading on May 5, the session after its Q1 report, and changed hands near $136. The stock had been near $146 before the release, and the sell-off came despite a revenue beat and a raised full-year outlook. Commentary pointed to a valuation near 200 times earnings and some slowing in bookings growth.

• Intraday drop of about 7% on May 5, to near $136
• Prior level near $146 before the report
• US commercial TCV growth slowed to 45% from 67% in Q4 2025 (per commentary)
• Consensus target about $180.68 with 19 Buy, 10 Hold, 2 Sell ratings