Where Will Palantir Stock Be in 1 Year?
Palantir Technologies (NASDAQ: PLTR) has turned out to be a stunning investment in the past year. The stock has shot up a remarkable 385% during this period, which means that it has multiplied by almost 5x in a very short time.
However, Palantir's rise can't be just attributed to its healthy financial performance. Though its growth rate has been picking up in recent quarters on account of the robust demand for its artificial intelligence (AI) software platform, there is an element of hype as well to Palantir's red-hot rally. That's the reason why it can be said that the stock may have gotten ahead of itself, and that's evident from its expensive valuation.
But will the valuation keep Palantir stock from flying higher in the next year? Or will the AI hype train send shares of this software specialist higher? Let's find out.
Source Fool.com
