Overall, the Trump administration's push for increased immigration enforcement, Palantir's history as a high-tech defense contractor, and co-founder Peter Thiel's status as a deep-pocketed Republican donor all mean the company is likely to see increased business from the government during the current administration.

Palantir issued guidance for second-quarter revenue of $934 million to $938 million -- the midpoint of that would be a 38% increase from Q2 2024. Its full-year guidance is now in a range from $3.89 billion to $3.902 billion.

Palantir Technologies Inc. PLTR will report its second-quarter 2025 results on Aug. 4, after the bell. The Zacks Consensus Estimate for earnings in the to-be-reported quarter stands at 14 cents, indicating 55.