Palantir Technologies (NYSE: PLTR) is a data analytics company specializing in processing, analyzing, and helping companies make sense of their data. It uses AI to help spot patterns and provide insights on complex datasets, and like many other big-name tech companies dealing with AI in some capacity, its stock price surged in 2023. Palantir stock finished the year up 167%.
A huge 2023 put Palantir on the radar of many prospective investors, but many are rightfully concerned about investing after such a significant surge. If you're wondering if Palantir is a buy now, it largely comes down to your time horizon.
Palantir has historically leaned heavily on government contracts to pad its top line, and to a certain extent, it still does. Government revenue made up 55% of Palantir's total revenue in the third quarter, but its commercial segment was growing more quickly as it finished the quarter up 23% year over year.
Source Fool.com