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.

A Morgan Stanley analyst strips his “underweight” rating as Palantir’s latest results go against three elements of his prior bearish stance.