3 Reasons to Buy Palantir Like There's No Tomorrow
Shares of data mining and artificial intelligence (AI) specialist Palantir Technologies (NYSE: PLTR) have popped by an impressive 47% so far in 2024.
Palantir surpassed consensus revenue estimates and met the adjusted earnings-per-share estimates in the first quarter of 2024. Despite blockbuster numbers, the stock tanked by nearly 15% after releasing this quarterly result as investors were disappointed with the company's conservative revenue guidance for full-year fiscal 2024.
Since then, Palantir stock has gained back all of its losses, mainly driven by some recent profit-taking in semiconductor/AI stocks and market rotation from semiconductor stocks to software stocks. However, there is still a lot to like in this software-as-a-service (SaaS) player, known for its exceptional ability to mine mounds of government and enterprise data for actionable insights.
Source Fool.com
