3 New Catalysts for Palantir's High-Flying Stock
Palantir's (NYSE: PLTR) stock has roughly tripled in price since its direct listing three months ago. Interest in the data-mining firm's stock was initially tepid due to its controversial business model, heavy dependence on government contracts, lack of profits, and ongoing insider sales.
However, Palantir's third-quarter earnings report in November -- which featured accelerating revenue growth, expanding gross margins, new government contracts, and enterprise renewals -- attracted a stampede of bulls.
Palantir's stock now trades at nearly 40 times next year's sales, and some analysts are warning that the stock could be too hot to handle. That caution is warranted, but three recent developments have kept the bulls engaged over the past month.
Source Fool.com
