Palantir Technologies (PLTR) is slated to report quarterly results after the market closes on Monday, and investors are positioning for a big stock move. 

Options pricing suggests traders are expecting Palantir stock to move more than 12% in the days after Monday’s earnings report. A move higher of that magnitude would put Palantir stock at an all-time high of about $139, while a decline of the same size would drag shares down to about $108. 

Palantir was the S&P 500’s best-performing stock last year when it rose 340%, and as of Friday’s close was the index’s top stock this year as well. Shares have risen more than 60% since the start of 2025, while the S&P 500 as a whole has declined a bit over 3%. 

Palantir, an ascendant defense contractor, has benefited recently from both booming demand for artificial intelligence (AI) services and Washington’s new priorities. The U.S. government accounted for more than 40% of Palantir’s revenue in the fourth quarter, ostensibly making it vulnerable to President Trump and Elon Musk’s cost-cutting initiative. However, the company’s focus on AI and Trump’s desire to increase spending on immigration enforcement and the military are expected to be tailwinds for Palantir. 

Shares soared more than 20% after each of the company’s two most recent earnings reports. The company in both February and last November said strong demand for its AI platform drove quarterly revenue growth of 30% or more in the preceding quarters. 

Wall Street expects Palantir to report revenue increased by 36% in the first quarter and adjusted earnings rose more than 60%, according to analysts who follow the company and are tracked by Visible Alpha. Though, due to the stock’s meteoric rise over the past year and a half, only one of those analysts recommends buying it at its current price.

Nonetheless, the company has developed a dedicated following of retail investors who have shown little interest in cashing out. According to analysts at Vanda Research earlier this year, Palantir is the third most popular stock among individual investors, behind only Nvidia (NVDA) and Tesla (TSLA). A recent Investopedia survey suggested readers bought the dip in Palantir stock last month as eagerly as they did tech giants like Amazon (AMZN) and Apple (AAPL).