Heineken and Walgreens were among the new customers the analytics software developer revealed late Tuesday.
Two of the market's most popular artificial intelligence (AI) stocks have been heavily sold off over the past few weeks. At the time of this writing, Nvidia (NVDA 1.66%) and Palantir Technologies (PLTR 2.19%) were down 25% and 32%, respectively, from their all-time highs.
Is the party finally over for the shares of Palantir Technologies (PLTR 1.98%)? It took just over two years for the stock to rise from the $6 per share range to the all-time closing high of $124.62 per share.
Palantir (PLTR) has fallen nearly 40% off its all-time high. Rick Ducat points to a noteworthy level on the chart around $78, as shares of PLTR have fallen below 2 important moving average studies.
Wedbush analyst Dan Ives sees now as a good time to snap up shares in some beaten-down names.
Nvidia (NVDA -5.07%) and Palantir (PLTR -10.05%) are two of the best-known artificial intelligence stocks, but only one can win this head-to-head battle.
Palantir's recent selloff, driven by high valuation multiples and budget cuts, presents a buying opportunity due to its strong fundamentals and government contracts. Despite a 40% drop from its peak, Palantir's AI platforms and government efficiency efforts suggest long-term growth potential. Palantir's Q4 results show robust growth in government and commercial segments, with significant contract values and revenue increases.
Palantir (PLTR -10.05%) was one of the biggest winners of 2024 on the stock market, delivering a monster gain of 341%.
Shares of Palantir Technologies (PLTR -11.17%) are plummeting on Monday. The company's stock lost 11.1% as of 2:20 p.m.
Palantir Technologies Inc.'s stock price has crashed roughly 33% since February 18th, down from $124 to now $80 per share, mainly on talk of defense budget cuts in the U.S. Government revenue, 40% of total sales, could be hit by the cuts, but nothing confirms that; any impact could be offset with higher European defense spend. Commerical side, 45% of total sales, is bolstering with a couple of new deals in the pipeline over the past week that could prove Palantir more resilient that expected.
Even during its ascendance in the second half of 2024, Wall Street experts were issuing warnings that Palantir (NASDAQ: PLTR) stock is likely to contract as the firm's strength has already been priced in by October of the year.
The tariffs-inspired stock market rout that began last week picked up steam on Monday, with the SPDR S&P 500 ETF Trust (NYSE: SPY) falling about 2.1% through noon ET, and the Nasdaq off 3.4%.