Palantir Technologies Inc. (NASDAQ:PLTR), a software company specializing in big data analytics, has secured the 7th spot on our list of most buzzing stocks to buy according to hedge funds. With 43 hedge fund holders, Palantir is a strong contender in the AI software industry.
The company has been making significant strides in its partnerships and strategic collaborations, including a $618.9 million contract with Army Vantage and agreements with Pray.com and Anduril. These moves demonstrate Palantir’s commitment to expanding its capabilities in AI applications for various industries.
Analyst Daniel Ives at Wedbush recently maintained a buy rating on Palantir, citing the company’s crucial role in AI growth and its strategic position. The stock has shown impressive growth over the past six months, with a 214% increase. However, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns within a shorter time frame.
As an alternative to Palantir, consider exploring the cheapest AI stock that trades at less than 5 times its earnings. The performance of the consumer and stock market reflects resilience despite volatile economic conditions.
Source: https://finance.yahoo.com/news/palantir-technologies-pltr-most-buzzing-140923801.html