PLTR - Prediction: 2 AI Stocks That'll Be Worth More Than Palantir 3 Years From Now
2024-07-07 04:35:00 ET
Palantir Technologies ' (NYSE: PLTR) stock price has rallied about 50% this year as the data analytics company dazzled the bulls with its accelerating revenue growth and soaring profits. Its revenue rose 17% in 2023, and it expects 20%-21% growth in 2024 as its government business stabilizes and its U.S. commercial business accelerates. It's also stayed profitable for six consecutive quarters, and analysts anticipate 71% earnings growth this year.
From 2023 to 2026, analysts expect Palantir to grow its revenue at a compound annual growth rate (CAGR) of 20% as its EPS increases at a CAGR of 56%. That rosy outlook, along with Palantir's growth potential in the AI market, drove its stock higher.
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Prediction: 2 AI Stocks That'll Be Worth More Than Palantir 3 Years From Now