{"id":13418,"date":"2023-11-28T17:22:48","date_gmt":"2023-11-28T17:22:48","guid":{"rendered":"https:\/\/infundpros.com\/investment\/palantir-stock-is-having-a-stellar-year-its-still-far-from-its-peak\/"},"modified":"2023-11-28T17:22:48","modified_gmt":"2023-11-28T17:22:48","slug":"palantir-stock-is-having-a-stellar-year-its-still-far-from-its-peak","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=13418","title":{"rendered":"Palantir Stock Is Having a Stellar Year. It’s Still Far From Its Peak."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

\n Palantir Technologies
\n stock has been on a tear this year, and the gains continued Tuesday\u00a0<\/strong>as the shares traded near a two-year high.<\/p>\n

\n Palantir
\n (ticker: PLTR) stock has soared more than 200% in 2023, driven largely by the investor frenzy over artificial intelligence. In Tuesday morning trading, the shares rose to $20.02, which would mark the highest close since Nov. 30, 2021, according to Dow Jones Market Data.<\/p>\n

\n

Still, despite this year\u2019s triple-digit percentage gain, shares of the data-analytics software company are still down 49% from their record close of $39 on Jan. 27, 2021. <\/p>\n

Over the last several months, multiple factors have boosted shares. In June, the company said it was awarded a multiyear contract worth up to $463 million to deliver technology to the U.S. Special Operations Command. In July, Wedbush analyst Dan Ives launched coverage of the company at Outperform, calling it \u201cThe Messi of AI.\u201d <\/p>\n

In August, Palantir unveiled a $1 billion stock repurchase program and lifted guidance. And earlier this month, the tech company posted better-than-expected financial results for its third quarter. <\/p>\n

Analysts are mixed on the stock, with 30% rating it Buy, 35% Neutral, and 35% Sell, according to FactSet. Wedbush analysts, led by Ives, however, continue to feel very optimistic about the stock.<\/p>\n

\u201cOur favorite tech names remain
\n Apple,<\/span><\/p>\n

Microsoft,<\/span>
\n Google,
\n Palo Alto,<\/span>
\n Palantir,
\n Zscaler,<\/span><\/p>\n

CrowdStrike,<\/span>
\n and
\n MongoDB,<\/span>
\n \u201d they wrote in a Sunday report. \u201cThe macro story is overshadowing the biggest technology revolution in the last 30 years with AI a \u20181995 Moment\u2019 and we believe the fundamental tech growth stories\/use cases are accelerating into 2024.\u201d<\/p>\n

Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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