Stock Market Today, March 2: Palantir Technologies Jumps After Strong Q4 Results Last Month and AI Defense Demand

2026-03-02 17:36:20 ET

Palantir Technologies (NASDAQ:PLTR) , a data integration and analytics platform provider, closed Monday at $145.17, up 5.82%. Shares moved higher on strong Q4 “double beat” results last month and recent defense-linked AI demand. Investors are watching contract momentum and AI platform growth next.
Trading volume reached 72.1 million shares, coming in about 58% above its three-month average of 45.6 million shares. Palantir Technologies IPO'd in 2020 and has grown 1,428% since going public.

The S&P 500 (SNPINDEX:^GSPC) inched up 0.04% to 6,882, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.36% to finish at 22,749. Within data integration and analytics software, industry peer Snowflake (NYSE:SNOW) closed at $170.33, rising 1.14% as investors assessed competitive positioning in enterprise AI workloads.

Palantir stock has been treading water since it reported fourth-quarter and full-year results one month ago. Underlying business results aren’t an issue. Sales soared 56% year over year, with domestic revenue accelerating. U.S. revenue grew 93% in the fourth quarter, led by commercial sales up 137%.

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