Big data and now AI giant Palantir (NASDAQ:PLTR) has been on an incredible tear of late.
Shares of Palantir Technologies Inc. (NASDAQ:PLTR) gained 4.22% over the past five trading sessions, continuing a rally that has seen the stock rise by nearly 96% since April 4.
Key Points in This Article: Palantir Technologies (PLTR) 419% stock surge over the pat year, driven by government contract wins and an expanding enterprise client base, supports buying despite PLTR stock depite Cathie Wood selling $185 million worth of shares.
What's the hottest stock in the S&P 500 (SNPINDEX: ^GSPC) right now? That's easy: It's Palantir Technologies (PLTR -0.33%).
Palantir (PLTR -0.33%) is one of the most popular AI stocks on the market. It has delivered shareholders incredible performance, but everyone wants to know if there's room for more.
Over the past couple of years, Nvidia (NVDA 0.53%) and Palantir Technologies (PLTR -0.33%) have both shown their strengths in artificial intelligence (AI) -- and as a result, their earnings and stock performance have soared. Last year, Nvidia was the best-performing component in the Dow Jones Industrial Average (though it only was added to the venerable blue chip index in November), and Palantir posted the biggest gain in the S&P 500.
If you missed the boat on Palantir (NASDAQ:PLTR) stock's incredibly multi-bagger surge over the past year and aren't remotely interested in chasing the stock, especially as some insiders offload their shares for a huge profit, you've come to the right place.
Palantir (NASDAQ: PLTR) and Snowflake (NYSE: SNOW) are both high-growth data software players. The two companies went public around the same time in late 2020.
Wedbush raised its 12-month price target on Palantir Technologies Inc (NYSE:PLTR) to $160 from $140 on Thursday, citing accelerating demand for the company's artificial intelligence software across commercial and government sectors, and positioning it as a frontrunner in what it called a “trillion-dollar AI spend” wave. Calling Palantir the “Messi of AI,” Wedbush analyst Dan Ives reiterated an “Outperform” rating on the stock.
The company stands to benefit from growing commercial and federal demand for its artificial intelligence platform, Wedbush analysts say.
Palantir Technologies Inc. NASDAQ: PLTR continues to deliver market-beating performance. PLTR stock is up more than 83% year-to-date, and there are several reasons for investor enthusiasm.
Palantir's (NASDAQ: PLTR) run appears unstoppable at the moment, with the software giant now targeting a high of $150.