Palantir Stock (PLTR) Surges 300% Amid AI Boom, But Valuation Concerns Linger
Palantir Technologies has emerged as a dominant force in AI-driven enterprise software, with shares skyrocketing over 300% in the past year. The company crossed $1 billion in quarterly revenue for the first time in Q2 2024, fueled by 93% growth in U.S. commercial sales and major government contracts for its artificial intelligence platforms.
While institutional adoption accelerates, Wall Street remains divided on the stock's trajectory. Mizuho Securities maintains a neutral rating, suggesting current prices already reflect AI optimism. "The growth narrative is compelling, but execution risk increases at these valuations," analysts noted, projecting a 7% downside from current levels.