Is Palantir Stock a Buy Now?
Palantir Technologies (NASDAQ: PLTR) stock delivered astronomical gains of 600% to investors in the past year, and it looks like the artificial intelligence (AI) software specialist could keep marching higher following the release of its latest quarterly report.
Palantir released its second-quarter results on Aug. 4. Soaring demand for the company's Artificial Intelligence Platform (AIP) allowed it to beat Wall Street's expectations, and it also raised its guidance for the full year. However, investors may now be wondering if it makes sense to buy Palantir stock following the massive gains it has clocked in the past year, especially considering the mind-boggling valuation it is trading at.
Let's see if Palantir has enough fuel in the tank to justify its expensive valuation and deliver more gains to investors.
Source Fool.com
