NEW YORK — Palantir Technologies Inc. shares fell sharply Wednesday, trading down more than 3.96% to $130.61 in morning action on May 13, 2026, as investors locked in gains following the company's blockbuster first-quarter earnings and aggressive full-year guidance raise.

The pullback comes just days after Palantir reported record results that exceeded Wall Street expectations on nearly every metric. The data analytics and artificial intelligence platform company posted Q1 revenue of $1.63 billion, up 85% year-over-year — its fastest growth rate since going public in 2020. Adjusted earnings per share reached 33 cents, beating estimates, while U.S. revenue surged 104% to $1.28 billion.

U.S. commercial revenue jumped 133% to $595 million, and government revenue climbed 84%. The company closed 206 deals worth at least $1 million during the quarter, underscoring strong demand for its Gotham, Foundry and AIP platforms. Palantir raised its full-year 2026 revenue guidance to between $7.65 billion and $7.66 billion, representing 71% growth, and lifted its U.S. commercial revenue target to more than $3.22 billion, implying at least 120% expansion.

Despite the strong numbers and upbeat outlook from CEO Alex Karp, who highlighted accelerating AI adoption and "commodity cognition," the stock has seen typical post-earnings volatility. Palantir shares had........

© International Business Times