#3 - Palantir Technologies (NASDAQ:PLTR)
Palantir Technologies Inc. (NYSE: PLTR) is one of the hottest stocks in the last 18 months. In 2024 alone, PLTR stock is up more than 140%. Yet, the stock is still primarily being supported by retail investors, which has some investors classifying it as a meme stock.
That might be a mistake, especially as Palantir has now earned inclusion in the S&P 500 index. AIP, the company’s software, ontology, and AI platform, helps position companies for the next phase of artificial intelligence by showing them how to get useful information from a large language model (LLM).
Palantir’s ability to deliver those insights is one reason why Palantir has many long-standing contracts with the U.S. Government, including the Department of Defense. And it’s a reason that the company is rapidly expanding its list of commercial clients.
Having said that, PLTR stock is objectively overvalued. But the company has overcome numerous objections since going public as a direct listing in 2020. And if Palantir can grow into its valuation, it will be one of the best growth stocks to own for the next 10 years and beyond.
About Palantir Technologies
Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.
Read More - Current Price
- $80.55
- Consensus Rating
- Reduce
- Ratings Breakdown
- 2 Buy Ratings, 11 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $41.00 (49.1% Downside)
