PLTR - Prediction: 2 Stocks That'll Be Worth More Than Palantir 2 Years From Now
2024-05-18 04:30:00 ET
Palantir Technologies (NYSE: PLTR) has been a divisive stock ever since it went public via a direct listing in September 2020. The bulls were initially impressed by the data mining firm's robust growth, the stickiness of its government contracts, and the growth potential of its commercial business. Its ability to aggregate data from disparate sources to help its clients make smarter data-driven decisions also made it a promising play on the artificial intelligence (AI) market.
Palantir's stock has more than doubled from its opening price of $10, but it remains nearly 50% below its all-time high. Its revenue increased 41% in 2021, but grew just 24% in 2022 and 17% in 2023. That deceleration -- which missed its own goal for at least 30% growth through 2025 -- made it an easy target for the bears as interest rates rose. It mainly attributed that slowdown to choppy government spending and other macro headwinds.
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Prediction: 2 Stocks That'll Be Worth More Than Palantir 2 Years From Now