Palantir Technologies (PLTR +29.45%) stock gained 2.2% through 11:15 a.m. ET Tuesday on some earnings news -- not an earnings report, exactly, but an announcement that earnings will be reported.
After close of trading on Monday, Aug. 3, 2026, to be precise.
Image source: Palantir.
News that news will happen isn't really news (yet)
As catalysts for a 2% stock price bump, this leaves something to be desired. By itself, it doesn't make sense that simply announcing an earnings date would add more than $6 billion to Palantir's market capitalization.
Regardless, investors are lining up today to prepare themselves for what Palantir might report three weeks from now.
NASDAQ: PLTR
Key Data Points
What will Palantir report?
And what will Palantir report next month? According to the consensus forecasts of Wall Street's best and brightest, Palantir's Q2 report should show quarterly revenue growing 80% year over year to $1.8 billion, with earnings more than doubling to $0.35 per share.
Sales growing strong double-digits, and earnings growing even faster (which indicates improved profit margins) would, of course, be good news, and potentially enough to reverse the long downturn that's been dogging Palantir investors, and that has the stock losing 12% of its value over the past year, versus S&P 500 gains of 20%.
Longer-term, analysts see Palantir earning $1.48 per share, up nearly double from 2025 earnings. With Palantir stock valued at more than 142 times trailing earnings, even doubling earnings this year won't be quite enough to turn Palantir into a value stock. If Palantir reports stronger free cash flow than net earnings, though, that might change the picture.
My advice: Focus on free cash flow when the news comes out in August. That'll tell you if Palantir stock is finally cheap enough to buy.
