Palantir Technologies (PLTR -0.39%) is probably the hottest stock on Wall Street. As of this writing, shares are up 51% year to date and more than 380% over the last 12 months.
The booming demand for artificial intelligence (AI) software has supercharged Palantir Technologies (PLTR -0.39%) in the past year, with shares of the company rising more than 510%, as of this writing. This remarkable run can be attributed to the data analytics and software-platform provider's improving growth profile in recent quarters as more and more customers are using its AI offerings.
Palantir Technologies (PLTR -0.39%) stock continued its rapid ascent after the data analytics and artificial intelligence (AI) software company reported strong fourth-quarter results that once again showed accelerating revenue growth. The stock is up a whopping 510% over the past year, as of this writing.
It's hard to believe that Palantir Technologies (PLTR -0.39%) traded for $6 per share in early 2023. Its share price recently shot past $100 after stellar Q4 earnings underlined the company's continued momentum in artificial intelligence (AI).
Palantir (PLTR -0.39%) stock is soaring as it expands within the enterprise segment in 2024.
I remain bullish on Palantir due to its strong revenue growth, operational success, and expanding moat, despite high valuation metrics. Risks include declining billings and reliance on interest income, which could impact the stock if growth momentum slows. If Palantir maintains growth above 25-30%, the narrative will hold, justifying a market cap potentially exceeding $500 billion.
South Korea's National Pension Services, which managed $720 billion as of the end of 2023, disclosed the moves in a filing with the SEC.
The share price of Palantir (NASDAQ: PLTR) has been on an upward tear, hitting the $100 milestone. The recent move was triggered by the company's blockbuster Q4 2024 earnings report.
PLTR's permabulls continue to prove us and the bears wrong, as the stock charts new heights of $100s ranges and its FWD P/E valuations hit triple digits. While the upward momentum is enviable, readers must note that insiders have been unlocking great gains at current levels as share dilution accelerates. Palantir may remain at the forefront of the AI SaaS race indeed, thanks to its market leading AI platform, growing mindshare, and minimal competition, thanks to the cloud supercycle.
Alex Karp is a PhD., technologist, and philosopher.
One of the best ways to make money in the stock market is by buying and holding solid companies for the long run, as this strategy not only allows investors to take advantage of secular or disruptive trends, but also helps them benefit from the power of compounding.
Palantir's (PLTR -0.39%) revenue growth is accelerating as businesses rush to employ its services.