The Rundown Palantir Analyst Breaks Down “Grand Slam” Earnings, Explosive Commercial AI Growth
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Nov 9, 2025 Tyler Radke, a Senior Equity Analyst and Co-Head of US Software Research at Citi, shares his insights on Palantir's impressive Q3 earnings. He discusses how the company could navigate potential challenges, such as an AI spending slowdown and its lagging international growth. Radke also highlights the nuances of Palantir's market valuation, the unique role of AIP in unlocking enterprise data, and the limited competition they face. Lastly, he addresses how retail investor dynamics can impact stock volatility.
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Quarter Was A Rare Grand Slam
- Palantir delivered an unusually rare quarter: accelerating growth at scale while improving profitability.
- Tyler Radke calls it a "grand slam" because revenue, profitability, bookings, and U.S. commercial momentum all beat expectations.
Valuation Is The Main Headwind
- The stock fell despite strong results because valuation already priced very high future expectations.
- Radke notes Palantir will do roughly $4.5B revenue yet trades near a multibillion-dollar market cap, limiting near-term upside.
Software Exposure Shields Some AI Risk
- Palantir is less exposed to AI infrastructure capex risks because it sells software not GPUs.
- Radke warns the stock still trades in the AI basket and would be vulnerable to sentiment shifts despite better fundamentals.