Palantir Technologies Inc. (PLTR) recently hit a new record high, surpassing the market capitalization of household names like American Express and Disney. The company’s impressive earnings growth, driven by a 16% increase in net income and a 29% jump in revenues, contributed to its surge.
In full year 2024, Palantir achieved $462 million in net income, with US revenues surging by 38% to $1.9 billion. The company’s fourth-quarter earnings also saw a 10% rise in net income to $79 million and a 36% increase in revenues to $828 million.
Palantir’s market capitalization reached as high as $240 billion last week, making it the second-largest firm on our list of stocks that soared last week. While PLTR is an attractive investment option, experts believe some AI stocks hold greater promise for delivering higher returns within a shorter time frame.
Read the full article to discover more about Palantir’s growth and find out which AI stock offers similar promise at a lower price point.
Source: https://finance.yahoo.com/news/why-palantir-technologies-pltr-soared-194031598.html