Nov 5, 2024
 in 
Hot Stocks 🔥

Palantir Still A ‘Hold’ Despite Q3 Earnings | Nemo

Name of opportunity: 👀

Palantir Technologies Inc 

It’s a ‘Hold’: 🤛

Palantir’s Q3 earnings report showed continued massive growth. The tech company, which has become a major player in AI, shared that its third quarter revenue was $726 million, 30% up from the same period last year. It also reached a record figure for net income of $144 million. Over the past day, the stock’s price has soared 22.36%. 

How hot is this investment opportunity? 🔥

Check out Palantir’s page in our investment app for the full scoop, but analysts currently predict a 57.28% decrease in the next 12 months, reaching an average target price of $21.25.

The reason for this is that some analysts believe that the stock is currently overvalued. Louie DiPalma, an analyst at William Blair, says Palantir’s international growth is slowing - with the international commercial division reporting its “slowest quarter growth rate in two years” for Q3 2024. DiPalma also compared Palantir to its data analysis competitor Snowflake which is producing higher revenue but available on the stock market at a lower price.

Some analysts believe that Palantir may have room to grow - for investors who don’t mind higher volatility stocks, it might be an interesting investment. It did recently join the S&P 500 index in September. 

Big tech : 🖥️

Palantir’s AIP (Artificial Intelligence Platform) allows its customers to automate their processes, speed up decision making, and build their own AI apps for the needs of their business. The company’s other three principal software platforms include data analysis platforms Gotham and Foundry, and Palantir Apollo, a software deployment tool that enables the use of Gotham and Foundry. 

Which neme?: 🔍

‘High Volatility Stocks’, ‘Top Stocks In AI’, ‘Top Gainers Today’, ‘Stocks On The Move’ 

Download Nemo Money to check out Palantir - if you’re a new user, you can access our registration bonus. We’ll give you 50% of the first $50 you top up with. Max bonus applicable is $50 when you deposit $100 or more. Terms and Conditions Apply.

Han Tan

Han Tan is a seasoned financial journalist and news presenter renowned for his expertise in global markets. With a career highlighted by interviews with prominent figures and recognition from major media outlets like CNN and Reuters, he delivers insightful analysis on market news and macroeconomic trends to clients and international audiences. Han's sharp commentary on currencies, stocks, and commodities is familiar to viewers of Bloomberg TV Malaysia, BFM 89.9, and NTV7, cementing his sterling reputation in the industry.