PLTR - Palantir: As Tempting As It Is To Sell Keep Riding This Rally
2024-07-09 10:19:24 ET
Summary
- Palantir stock has surged over 60% year to date, driven by AI enthusiasm and US government business growth.
- Though the stock is trading at over 20x current year revenue, I recommend continuing to hold for further upside.
- The company is re-accelerating its government business, which continues to deliver more than half of Palantir's revenue.
- The company also notes that "bootcamp" style trials for Palantir products have helped to compress sales cycles, whereas many software peers are reporting deal cycle elongation.
Without a doubt, the single best-performing stock in my portfolio over the past quarter has been Palantir ( PLTR ). Fueled by rabid AI enthusiasm and a re-acceleration in its all-important US government business, Palantir has been on a tear since reporting Q1 results....
Palantir: As Tempting As It Is To Sell, Keep Riding This Rally