2024-02-20 03:38:47 ET
Summary
- Palantir Technologies' stock has outperformed the market, up 21.3% since November 2023.
- The company's revenue is projected to grow by 19.6% in 2024, driven by commercial growth and the rise of AI.
- PLTR has a strong balance sheet with no debt and $3.67 billion in cash, providing flexibility for growth.
- But even so, investors need to be careful since the stock is looking more expensive each day.
As a value investor, growth investing can be a scary concept. Paying a high price, a price that is higher than justified based on current fundamentals, with the hope that future growth will not only make up that gap but also allow you to achieve a robust return does not exactly come across as sound investment advice. Having said that, when growth investing is done right, the results can be phenomenal. For much of last year, I was rather bearish on one of the most popular growth stocks of the last few years. That is none other than Palantir Technologies ( PLTR ). Rapid growth, combined with hype centered around AI, ended up sending shares of the business up rather meaningfully....
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Palantir Technologies: Shares Risk Getting Ahead Of Themselves