Palantir Technologies Inc. ( PLTR ) shares are trading higher Friday after climbing new highs during the week. Here’s what you need to know.

The Details: On Monday, Palantir ( PLTR ) reported third-quarter revenue of $725.52 million, surpassing the $701.13 million estimate and earnings per share of 6 cents, beating expectations of 4 cents. Total revenue rose 30% year-over-year, with U.S. commercial revenue up 54% and U.S. government revenue up 40%. CEO Alex Karp added that the company's growth is "driven by unrelenting AI demand that won't slow down."

Shares continued to rise after some analysts commented on Palantir's ( PLTR ) expanding U.S. customer base and AI product demand. Analysts at Wedbush, Mizuho and DA Davidson all raised their price targets, with Wedbush's Dan Ives citing Palantir's ( PLTR ) "robust" results and AI expansion.

The stock hit another all-time high on Wednesday after Donald Trump's presidential win sparked market optimism on potential policy shifts, which could favor defense and AI sectors. Palantir ( PLTR ), up 25% over the past week, was seen as a potential beneficiary of a Trump administration’s defense and intelligence priorities.

Palantir ( PLTR ) shares also faced early pressure after Jefferies downgraded the stock from Hold to Underperform, citing valuation concerns. However, the stock bounced back intraday Thursday after Palantir ( PLTR ) announced a partnership with Amazon Web Services (AWS) and Anthropic to bring advanced AI capabilities to U.S. defense and intelligence agencies. The partnership will integrate Anthropic’s Claude AI models into Palantir's ( PLTR ) AI Platform for secure government use.

PLTR Price Action: Palantir ( PLTR ) shares were up 3.42% at $58.30 at the time of writing, according to Benzinga Pro.

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