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  • Writer's pictureAmit Kukreja

Palantir’s Rise: How it’s Capturing the Media's Attention

This article was edited by Andrew Salamon, head of content at Daily Palantir. You can follow him on twitter here

The rumble on Wall Street about Palantir, the groundbreaking AI pioneer, is turning into a roar. While the stock has not been on the mainstream media's radar for a long time, the company's soaring shares are drawing an increasingly wide range of attention. From TD Ameritrade to CNBC, the press has started covering the company with greater interest as its stock rally begins to gain real momentum.

A once-overlooked gem in the vast universe of AI companies, Palantir is now leading the charge. With an exceptional year that saw its stock skyrocket by an unprecedented 140%, the company has outpaced other industry giants such as Carnival, AMD, and Google. This success has been attributed to the company's pioneering work in artificial intelligence and data analysis. Its military roots have given it the prowess and sophistication to take on the most challenging of tasks.

Originally, Palantir specialized in predictive intelligence and data analysis for the Department of Defense. However, over the last few years, as a public company, it has begun transitioning its technologies to serve a broader audience. Now, with AI becoming ubiquitous across all industry sectors, from healthcare to finance and mining, Palantir is at the forefront of this revolution, offering AI solutions that have been tried, tested, and perfected over the years.

Of course, with this bullish momentum come the analysts and their forecasts. According to Bank of America, which raised its price target on the stock from $13 to $18, Palantir remains a buy. The company's extensive dealings with the U.S. government not only serve as a guarantee of the quality of its offerings but also as a buffer, providing a supportive environment for further technology deployment.

Over the past month, the company has secured several significant contracts, including a $565 million deal with the Special Operations Command Center of the U.S. Air Force. Its sales now hover around the $2 billion mark annually, and the company is forecasting a sales growth of about 30% annually through 2025. Despite these impressive figures, there is still a question of valuation.

Some argue that the stock may be getting ahead of itself, trading at about 71 times forward earnings and with a price-to-sales ratio of around 16 times. However, such concerns have not dampened the enthusiasm around the stock, especially as the company continues to deploy its technologies in the private sector.

Even with the potential for a minor pullback, investors' eyes are on Palantir, with many waiting to pounce at the hint of a dip. With the stock unlikely to drop to the $10 range, investors who missed the initial rally might be preparing to step in, further supporting the stock's resilience.

The future for Palantir seems brighter than ever. Renowned analyst Gene Munster from Deepwater Asset Management recently included Palantir in his list of companies to ride the AI wave, a testament to the company's growing recognition and credibility.

As Palantir continues to secure more contracts, generate higher sales growth, and pioneer AI technologies, the company will continue to attract attention from both the media and Wall Street. The question isn't whether or not to invest in Palantir but when and at what price. This year, it might be time for investors who have been sitting on the sidelines to join the rally.

Apart from its solid performance in the stock market, Palantir is making waves in the industry through its innovative products and services. Its Gotham, Foundry, and Apollo platforms are proving to be game-changers. Gotham is helping institutions with complex data environments make sense of their information, while Foundry enables organizations to integrate, clean, and analyze their data. On the other hand, Apollo is the continuous delivery system that powers both platforms, making AI accessible, usable, and scalable.

Palantir is showing no signs of slowing down. The company continues to expand its presence across sectors, inking deals with top-tier institutions worldwide. Recently, it announced partnerships with leading healthcare and pharmaceutical companies to use its AI and data analytics technologies to streamline operations and research and development processes.

While there's no crystal ball to predict future stock prices, the overall sentiment around Palantir's stock is bullish. Its growing list of contracts, its unique selling proposition in AI and data analytics, and its robust financials, among other factors, make it a compelling choice for investors.

As AI continues to shape various industries, Palantir, with its high-quality products, vast experience, and strong partnerships, is well-positioned to capitalize on these developments. As the adage goes, "The early bird catches the worm," and it seems that investors who get in on Palantir's stock rally now could reap significant benefits in the long run.

The winds of change are blowing, and AI is at the helm. As Palantir continues to sail these waters, its stock rally could prove to be just the beginning of an even larger journey. Only time will tell, but for now, all eyes remain on Palantir – the AI trailblazer that's reshaping industries one contract at a time.

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