What Is Driving Palantir Stock? Trefis Team Tue, November 10, 2026 at 8:11 AM EST 3 min read PLTR -1.51% ^GSPC +2.35% MSFT -0.58% AMZN -0.61% GOOG -0.13% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
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Palantir Technologies (PLTR) stock rose 5.5% on Monday, November 9, 2026, while the S&P 500 gained 2.3%. There was no announcement, earnings report or filing from the company around the move, and the rise came as Wall Street rebounded after a steep sell-off in global technology stocks the week before. Its latest earnings call came on November 2. So what ties Palantir to a rebound in tech stocks?
Palantir Fell With AI Stocks Before It Rose
Palantir sells an AI platform to companies and governments, and its stock had fallen alongside other AI stocks just before Monday's rise. It closed lower for seven straight sessions as AI stocks sold off, then fell another 9.7% on Thursday, November 5, three sessions after its third-quarter earnings call. It rose 3.5% the next day, so Monday's gain was its second in a row.
The business itself grew fast in its latest quarter. Revenue reached $2.31 billion in the quarter ended September 30, 2026, up 95.9% from a year earlier. Management said on the November 2 earnings call that U.S. commercial revenue from sales to American businesses grew 148% to $984 million, though the total value of new contracts the company signed rose a slower 6%.
Did Palantir Rise More Than Other Tech Stocks?
Mostly. Palantir's gain beat the 3.7% rise in XLK, the SPDR fund that tracks the technology sector, and the 2.7% gain in the Nasdaq Composite the same session. Among its peers, Snowflake rose as much as Palantir, while IBM slipped 0.2%. Palantir moved with technology stocks that day, and it rose more than the sector fund.
Palantir Stock Is Still Down Over Twelve Months
A rise this large is not rare for Palantir. The stock rose this much or more during 12 sessions in the prior 365 days, and its latest move of this size came two sessions earlier, in the other direction.
Even after two days of gains, the stock is down 19.1% since October 9, when it set its highest close of the past year. The S&P 500 posted a 3.3% fall over the same month. Over twelve months Palantir has lost 3.3%, while the S&P 500 returned 13.7%. Over six months the stock is still up 23.6%, a window that holds its lowest close of the past year, in June.
Palantir trades at 55.8 times its sales over the past twelve months, against 3.1 times for the S&P 500. On earnings the gap is narrower: 110.9 times against 21.8 times.
Palantir is expected to report its fourth-quarter 2026 results in February 2027. Its U.S. commercial revenue is the figure to watch.
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