Palantir Technologies Inc. ( PLTR ) shares fell approximately 2% on Monday. The move extends a downward trend. The stock has dropped 6.82% over the last week. This follows its first-quarter 2026 earnings report.

Nasdaq futures are down 0.16% while S&P 500 futures have shed 0.12%.

Earnings Beat Fails to Spark Rally

Last Monday, Palantir ( PLTR ) reported first quarter revenue of $1.63 billion. This beat the $1.54 billion analyst estimate. Adjusted earnings hit 33 cents per share. This surpassed the 28 cents expected. Despite these beats, the stock remains under pressure.

Analyst Focus on AI Value

Rosenblatt raised its price forecast from $200 to $225. The analyst noted that Palantir’s revenue outlook surpassed prior Street high-end estimates. They highlighted that the company's platform remains a critical differentiator for enterprise AI adoption.

Government Business Surges

Piper Sandler maintained an Overweight rating with a $230 price forecast. The analyst noted the U.S. government business surged in the first quarter. Growth in that segment accelerated 84% year over year. The analyst believes this strong exposure to critical government programs drove the guidance hike.

Technical Analysis

The stock is trading 4.5% below its 20-day SMA, 7.4% below its 50-day SMA, 12.3% below its 100-day SMA, and 17.7% below its 200-day SMA.

Trend structure also leans bearish: the 20-day SMA is below the 50-day SMA, and the death cross that formed in February — 50-day SMA below the 200-day SMA.

On momentum, RSI sits at 46.48, which points to neutral conditions.

Key Resistance: $156

Key Support: $122.50

PLTR Stock Price Activity: Palantir Technologies ( PLTR ) shares were down 2.24% at $134.72 during premarket trading on Monday, according to Benzinga Pro data.