HEY FINANCE FAM! Are you ready to dive into one of the most talked about stocks of the moment?! Palantir (PLTR -4.97%) has been making waves in the tech bear market, experiencing a staggering drop of 87% from its all-time high, but since hitting that low in December, it’s skyrocketed a whopping 50%! So, is it a top growth stock to add to your portfolio or has it reached too far too fast? Let’s find out! Palantir started off as an analytics platform for national defense and law enforcement called Gotham, powered by Palantir Apollo, which uses AI and machine learning to analyze data and provide insights. And that’s not all, they also have a second platform, Foundry, which is making waves in the commercial sector with its analytic capabilities. Companies like Cardinal Health and Cloudflare are already reaping the benefits and the number of commercial customers using Foundry has increased by 124% in the past year! And while the price tag of a $1 million monthly subscription may seem steep, more and more companies are choosing Palantir because no other solution can match its capabilities. Now, while the revenue for the first three quarters of 2022 was impressive at $1.4 billion, it falls short of the CEO’s goal of 30% annual revenue growth and the losses continue, but there are reasons to be optimistic! Palantir is still trading 80% below its all-time high and with a price-to-sales ratio of 10, it’s well below its record of 46 from January 2021. So, is it too late to invest in Palantir? Well, the increasing interest in their software shows that companies see its value and the sluggish economy has companies looking for ways to save money and find new opportunities. And with a value proposition that no other company can match, it’s definitely worth considering. So, what do you think finance fam? Is Palantir a growth stock to add to your portfolio? Let me know in the comments!
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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.
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