Palantir Technologies Hits $400 Billion Market Cap with 63% Revenue Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Significant Revenue Growth: Palantir's Q3 revenue surged 63% year-over-year to $1.18 billion, with U.S. commercial sales skyrocketing 121% to $397 million, indicating strong performance in the private sector that further drives overall business growth.
- Market Share Expansion: The launch of Palantir's Artificial Intelligence Platform (AIP) in mid-2023 has garnered attention from analysts and investors, marking a strategic shift in the company's data analytics capabilities, particularly in military and public sector applications.
- Political Risk Challenges: As Palantir expands into the private sector, it reduces political risks but faces competition from rivals like Microsoft and Snowflake, which could impact its market position and future growth potential.
- Investor Confidence: With a price-to-earnings (P/E) ratio of 170, Palantir's stock is seen as perfectly priced, reflecting investor optimism about its long-term growth, although it may be prudent to wait for a more favorable entry point in the short term.
Analyst Views on PLTR
Wall Street analysts forecast PLTR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PLTR is 192.88 USD with a low forecast of 50.00 USD and a high forecast of 255.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
17 Analyst Rating
5 Buy
10 Hold
2 Sell
Hold
Current: 165.900
Low
50.00
Averages
192.88
High
255.00
Current: 165.900
Low
50.00
Averages
192.88
High
255.00
About PLTR
Palantir Technologies Inc. is engaged in building software to assist in counterterrorism investigations and operations. The Company has built four principal software platforms, including Palantir Gotham (Gotham), Palantir Foundry (Foundry), Palantir Apollo (Apollo), and Palantir Artificial Intelligence Platform (AIP). Apollo is a cloud-agnostic, single control layer that coordinates ongoing delivery of new features, security updates, and platform configurations, helping to ensure the continuous operation of critical systems. Gotham enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. Foundry transforms the ways organizations operate by creating a central operating system for their data. AIP enables responsible artificial intelligence (AI)-advantage across the enterprise by using primary, core components built to effectively activate large language models and other AI within any organization.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
