US Stock Market Move | Palantir (PLTR.US) fell more than 6.7% in response to its impressive Q3 financial report, but the market is concerned that its valuation is too high.

On Tuesday, Palantir (PLTR.US) stock price dropped, falling more than 6.7% to $193.2 per share as of the time of writing. On the news front, Palantir reported third-quarter revenue of $11.8 billion, a 63% increase year-over-year, surpassing analysts' expectations of $10.9 billion. The company expects fourth-quarter revenue to be $13.3 billion, higher than analysts' expectations of $11.9 billion. Deutsche Bank Aktiengesellschaft strategist Jim Reid wrote in a report, "Their performance is good, but the market is disappointed by the lack of clarity on the company's performance outlook for the whole of 2026." He also mentioned concerns in the market about Palantir being overvalued. As of Monday's close, Palantir's stock price has risen by 173% year-to-date, with a forward price-earnings ratio exceeding 200 times.