Palantir Technologies shares rocketed higher Tuesday after earnings results comfortably beat expectations. Many analysts are wary the analytics software provider is overvalued.

Shares of Palantir ( PLTR 23.47%) were soaring today after the artificial intelligence (AI)-focused software stock posted better-than-expected results in its third-quarter earnings report last night, as revenue growth accelerated for the fifth quarter in a row. It posted strong margin expansion as well.

In today's session, PLTR is trading more than 14% higher ahead of the bell, as Wall Street cheers the company's third-quarter (Q3) earnings report. In fact, outspoken CEO Alex Karp kicked off the company's earnings call by saying, “Given how strong our results are, I almost feel like we should just go home.”