Palantir Technologies (PLTR) has been added to the Nasdaq-100 index, a prestigious subset of the Nasdaq Composite that tracks the performance of top non-financial companies. The company’s stock has surged 1,090% since last year, driven by its expertise in artificial intelligence and growing demand for AI solutions.
Despite its high valuation, one Wall Street analyst remains bullish on Palantir, citing accelerating growth and potential for ‘unprecedented demand’ in the next 12-18 months. The company’s forward price/earnings-to-growth (PEG) ratio is 0.63, indicating undervalued stocks with growth rates above 1.
Analyst Dan Ives predicts Palantir will see “unprecedented demand” as more enterprises adopt and expand its AI solutions, citing potential upside of 188% compared to Oracle’s market cap. While this vision requires time, it presents a vast opportunity for investors willing to take on additional risk.
Investors should consider the following before investing in Palantir Technologies:
* The Motley Fool Stock Advisor analyst team did not identify Palantir as one of their top picks.
* Investing $1,000 in Nvidia on April 15, 2005, would have returned $822,755.
* TheStockAdvisor service has quadrupled the return of S&P 500 since 2002.
Note: This article is for informational purposes only and does not provide personalized investment advice.
Source: https://finance.yahoo.com/news/nasdaq-100-just-announced-latest-161852363.html