Palantir is one of Wall Street's hottest artificial intelligence stocks. It's also one of the most expensive.
Palantir Technologies Inc (NYSE:PLTR) is nearing a significant milestone after a stellar year-to-date with its market capitalisation approaching $100 billion. It is currently valued at just shy of $97 billion.
Palantir joined the S&P 500 last month, and its stock ranks third by year-to-date performance among current members.
Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S. Securities and Exchange Commission.
An under-the-radar enterprise software company is demonstrating some similar growth compared to Palantir.
Palantir (NYSE: PLTR) has experienced substantial growth this year, thus far — the big data analytics company has managed to secure both key government contracts and valuable private partnerships, with investors keenly tracking whether or not the stock will cross over $50.
Both companies have enjoyed stunning gains in 2024 thanks to AI, but they are trading at expensive valuations.
Palantir's stock has surged 77% since our 'Strong Buy' recommendation, but its current valuation - at 33x sales - looks extended. Despite strong financial and operational performance, including ~30% revenue growth and improving margins, the stock's price is way ahead of underlying financial results. As a result, we're soft-downgrading the stock to a 'Buy' from a 'Strong Buy' in light of the extended multiple.
Palantir Technologies (PLTR) shares are likely to remain in the spotlight after jumping to a record high Tuesday following bullish commentary from Ark Invest, which said that the analytics software provider could have further potential upside from the artificial intelligence (AI) boom.
Shares of data analytics software firm Palantir Technologies (PLTR) were Tuesday's biggest gainers in the S&P 500 after after asset management firm Ark Invest spotlighted software as an area with more room to benefit from artificial intelligence (AI) trends.
On Tuesday, YieldMax launched its newest option fund, the YieldMax PLTR Option Income Strategy ETF (PLTY). PLTY aims to offer current income for its investors.
Palantir CTO Shyam Sankar on Tuesday discussed what's driving the company's demand.