#3 - Palantir Technologies (NYSE: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. The company’s software, ontology, and AI platform, AIP, help position companies for the next phase of artificial intelligence. That phase will show companies how to get useful information from a large language model (LLM).
Palantir’s ability to deliver those insights is a reason why Palantir has many long-standing contracts with the U.S. Government including the Department of Defense. And it’s the 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 builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
Read More - Current Price
- $43.13
- Consensus Rating
- Reduce
- Ratings Breakdown
- 3 Buy Ratings, 8 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $27.29 (36.7% Downside)
