Key Takeaways Palantir's stock is surging after its latest results beat Street expectations.Analysts worry the company may be overvalued, with many maintaining sell or equivalent ratings despite a strong quarter.

The Dow Jones Industrial Average and the other major stock indexes traded higher Tuesday, as Wall Street braced for today's presidential election results. Artificial intelligence giant Palantir Technologies soared on the stock market today after the company's earnings report.

Palantir Technologies shares powered firmly higher in early Tuesday trading Palantir (PLTR) , which was added to the S&P 500 last month, has established itself as key player in the defense industry, with a host of contracts with domestic and international agencies that focus on its data analytics and AI technologies.