Palantir Technologies (Palantir stock) is a publicly traded American software company that specializes in big data analytics. Its headquarters are in Denver, Colorado. Its founders include Peter Thiel, Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp.
Palantir has a strong revenue growth trajectory, as it reported third quarter revenues of $392 million, which is 36% higher than the year-ago period. The company has also expanded its customer base, gaining large corporate clients with deep pockets. It recently announced a series of multi-million dollar deals with the U.S. Air Force and other large organizations.
Although the company’s growth has been steady, it has faced headwinds in the form of a moderate recession. However, it’s likely to grow its top line in the coming years. The company recently added 27 net new commercial customers, a 46% year-over-year increase. The company’s growth has been impressive, but investors are now worried that it could become vulnerable to a recession.
If you’re considering Palantir as an investment, it’s important to realize that the stock is near all-time lows. While this isn’t necessarily a good time to buy, this stock has a great upside potential in the coming years. Its founder, Peter Thiel, is known for his success in PayPal and other technology companies. Palantir is now one of the most popular software companies in the US, employing over 3,200 people.
Although Palantir stock is not a bargain, it’s a fast growing tech stock. Investors will likely see a huge upside to this stock as it continues to grow its product line. There’s a lot to like about Palantir Technologies stock, so it’s important to learn as much as you can about the company.
However, with the stock’s recent volatility, it’s important to note that some analysts have reduced their price target for the company. Analyst Tyler Radke at Citi Securities has downgraded Palantir stock to a low of $7. This is because the company didn’t meet his expectations for revenue in the third quarter and provided mediocre guidance. Moreover, the commercial business’s revenues have been declining incrementally.
Palantir Technologies’ valuation model considers various fundamental indicators to determine the company’s value. It also looks at the company’s competitiveness and potential future cash flow. Using this information, investors can evaluate the company’s worth versus the industry benchmark. This helps investors decide whether Palantir Technologies is a good investment to consider.
Palantir has made a name for itself through its technology, which has helped find Osama bin Laden in 2011. Its tech is also being used to track the spread of COVID-19 infections, predict pandemic outbreaks, and track medical supply chains. The company has three main products, which include Palantir, Foundry, and Gotham.
The company develops software solutions to manage large disparate data sets. Its focus was in the government and defense sectors at first, but has recently expanded into the commercial sector. With its products and services, it wants to become the data operating system for companies. Its 125 government and commercial customers have become customers of Palantir’s software.