Prediction: Buying Palantir Stock Today Could Set You Up for Life
The booming demand for artificial intelligence (AI) software has supercharged Palantir Technologies (NASDAQ: PLTR) in the past year, with shares of the company rising more than 510%, as of this writing. This remarkable run can be attributed to the data analytics and software-platform provider's improving growth profile in recent quarters as more and more customers are using its AI offerings.The company released its fourth-quarter 2024 results on Feb. 3, crushing Wall Street's expectations handsomely. As a result, Palantir stock shot up a remarkable 23% following its report. The stock surged impressively, despite trading at an extremely rich valuation.However, a closer look at the way Palantir is benefiting from the opportunity in the AI software-platforms space will tell us just why the market is rewarding this company with a premium valuation.Continue reading
The booming demand for artificial intelligence (AI) software has supercharged Palantir Technologies (NASDAQ: PLTR) in the past year, with shares of the company rising more than 510%, as of this writing. This remarkable run can be attributed to the data analytics and software-platform provider's improving growth profile in recent quarters as more and more customers are using its AI offerings.
The company released its fourth-quarter 2024 results on Feb. 3, crushing Wall Street's expectations handsomely. As a result, Palantir stock shot up a remarkable 23% following its report. The stock surged impressively, despite trading at an extremely rich valuation.
However, a closer look at the way Palantir is benefiting from the opportunity in the AI software-platforms space will tell us just why the market is rewarding this company with a premium valuation.
