Palantir shares have rallied sharply into late September, closing the week of September 21 near $192 after gains of more than 3% on both September 21 and 23, supported by post-earnings momentum and fresh contract wins. Second-quarter revenue surged 93% year-over-year to $1.94 billion, with U.S. commercial revenue jumping 149%, prompting management to raise full-year 2026 revenue guidance to roughly $8.15 billion. A new $48.1 million U.S. Army ammunition-management contract and expanding commercial AI deployments, including partnerships with Nvidia and sovereign-AI initiatives, reinforced growth expectations. Analyst notes such as Rosenblatt’s reiterated Buy rating and $225 target added to sentiment, though the stock’s elevated valuation leaves it sensitive to broader market risk appetite and any shifts in government spending priorities.