Could Innodata Become the Next Palantir?
Palantir (NYSE: PLTR), a data mining and analytics firm that serves the U.S. government and large companies, went public via a direct listing on Sept. 30, 2020. It started trading at $10 and went through some wild swings, but now trades at about $29. The company impressed the bulls with its robust growth, rising profits, and the rapid expansion of its domestic commercial business, which helped reduce its dependence on rigid government contracts.
Palantir's revenue rose at a compound annual growth rate (CAGR) of 32% from 2019 to 2023, and analysts forecast its revenue to increase at a CAGR of 20% from 2023 to 2026. It also turned profitable on a generally accepted accounting principles (GAAP) basis in 2023, and analysts expect its net income to rise at a CAGR of 46% over the next three years.
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Source Fool.com
