Prediction: 1 Stock That Will Be Worth More Than Palantir Technologies 2 Years From Now
Palantir Technologies (NASDAQ: PLTR) has been on a tearing run on the stock market over the past year, registering astronomical gains of 495% as of this writing. Its dynamic growth is driven by the terrific success of the company's Artificial Intelligence Platform (AIP) that has led to a nice acceleration in its growth in the past few quarters.However, Palantir's astronomical surge brought the stock's valuation to levels that don't seem sustainable. It is trading at a whopping 623 times earnings and 114 times sales. Not surprisingly, Palantir's 12-month price target of $110, as per 28 analysts covering the stock, points toward a 23% decline from current levels.So, the possibility of Palantir's market cap slipping from the current figure of $338 billion cannot be ruled out. If that's indeed the case, there is a chance that it could be overtaken by another fast-growing AI company that's currently trading at much more attractive levels. Let's take a closer look at that name and check why its valuation could be more than Palantir's within the next two years.Continue reading
Palantir Technologies (NASDAQ: PLTR) has been on a tearing run on the stock market over the past year, registering astronomical gains of 495% as of this writing. Its dynamic growth is driven by the terrific success of the company's Artificial Intelligence Platform (AIP) that has led to a nice acceleration in its growth in the past few quarters.
However, Palantir's astronomical surge brought the stock's valuation to levels that don't seem sustainable. It is trading at a whopping 623 times earnings and 114 times sales. Not surprisingly, Palantir's 12-month price target of $110, as per 28 analysts covering the stock, points toward a 23% decline from current levels.
So, the possibility of Palantir's market cap slipping from the current figure of $338 billion cannot be ruled out. If that's indeed the case, there is a chance that it could be overtaken by another fast-growing AI company that's currently trading at much more attractive levels. Let's take a closer look at that name and check why its valuation could be more than Palantir's within the next two years.
