TECH - Palantir Hits 52-Week High: Can the AI Buzz Drive PLTR Higher? | Benzinga
Shares of Palantir Technologies Inc. (NYSE: PLTR) hit a 52-week high of $27.99 on Jul 8 before closing a tad lower at $27.7, up a whopping 61.3% year to date.
Since hosting its fourth AIP event on Jun 6, Palantir's shares have surged by 16.4%. This performance has significantly outpaced the 5% rise of its industry and the 4.3% increase of the Zacks S&P 500 composite. Interest in this prominent AI-focused stock remains strong, as investors seek opportunities to capitalize on the trend.
Year-to-Date Price Performance
Image Source: Zacks Investment Research
Similarly, other noteworthy AI stocks have experienced significant gains, reflecting the overall positive sentiment in the market. NVIDIA has risen 159% and SoundHound AI has rallied 98% year to date.
Given the continued strength in PLTR shares, investors might be tempted to buy the stock. But is this the right time to buy PLTR? Let's find out.
Artificial Intelligence Platform (AIP) & Bootcamps
Palantir's AI solutions play a crucial role in enhancing defense capabilities, especially amid rising geopolitical tensions. This is evident from its recent $480 million U.S. defense contract for its AI system, Maven. The company maintains a balanced revenue stream, with 55% coming from government contracts and 45% from commercial ventures. Palantir's expertise in AI-driven information warfare and ...