Palantir stock is rising because it is going to be included in the S&P 500 soon. However, shareholders should focus on the business fundamentals and valuation.
Palantir Technologies stock (NYSE: PLTR) has had a solid run, rising more than 2x since the beginning of the year from levels of about $16 per share in January to about $34 presently, led by surging demand for big data and analytics services on the back of the generative artificial intelligence wave. While the stock witnessed a single-day surge of 14% after S&P Global announced its inclusion in the S&P 500 index on September 6, the bullish trend has been for the long term, which saw the stock rise almost five times since the beginning of 2023 - around 20 months ago.
Wall Street analysts forecast significant upside for Nvidia shareholders and substantial downside for Palantir shareholders. Nvidia is the market leader in artificial intelligence chips and networking gear, and the stock trades at a surprisingly reasonable valuation.
Palantir will be added to the S&P 500 before trading opens on Sept. 23. The stock is up more than 400% since the start of 2023.
Palantir co-founder and Chairman Peter Thiel has been selling shares of the stock this year and plans to continue to reduce his stake. The stock has been on an incredible run since the start of 2023.
Palantir is known for its work in the Defense and Intelligence industries. However, recent results show an inflection in its commercial business.
Palantir Technologies Inc. (PLTR) closed the most recent trading day at $35.59, moving +1.95% from the previous trading session.
Palantir Technologies PLTR CEO and co-founder Alex Karp didn't hold back when discussing how the company could help military governments in a recent interview ahead of a presentation on artificial intelligence.
S&P 500 inclusion is a big deal for Palantir but investors should expect short-term volatility in the stock.
Palantir Technologies (PLTR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Palantir was added to the S&P 500. The company announced a five-year extension with a big customer.
During its upcoming rebalancing, the S&P 500 index will add Palantir Technologies. The artificial intelligence (AI) specialist has decades of experience and turned its focus to generative AI.