Palantir Is Up More Than 40% YTD: Will Rally Continue?

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Since its IPO, Palantir (PLTR) has been one of the best-performing stocks in the market. YTD, it’s already up 40%. Here's our take take on what’s next for this high-flying stock.

Palantir Technologies (PLTR - Get Rating) is one of the most secretive publicly traded companies in the history of the stock market yet that does not mean it is undeserving of your attention. As long as you don’t mind investing in a company that might not be completely ethical in every component of its business, you owe it to yourself to consider adding PLTR to your portfolio.

This is not to say PLTR lacks transparency. Rather, some have criticized the company for helping the intelligence community (spies) in questionable ways. However, investors are not moralists. In the end, what matters most is the bottom line.

In short, PLTR is an affordable stock with considerable growth potential. Let’s take a look at the company’s prospects for the future.

PLTR’s Business

Based in beautiful Denver, Colorado, PLTR keeps its metaphorical cards close to the vest and there is nothing wrong with that unless you are an investor. Perform your due diligence when researching PLTR and you will likely be left with some questions. However, PLTR’s covert style has the potential to be a boon as opposed to a weakness even though most investors demand full transparency at all times.

Though the investing public might not ever learn all the juicy details about PLTR’s operations, the company has made it abundantly clear it makes money by providing software platforms to those who work in the intelligence community. PLTR primarily generates revenue by selling these software platforms to the United States’ intelligence community. However, PLTR also has some commercial clients as well.

Recent PLTR Developments

Investors are clearly excited about PLTR’s data analytics offerings as the stock is up more than 200% since its debut. PayPal co-founder Peter Thiel has given the company his vote of confidence. This is an important development as Thiel has a high profile and widespread respect throughout the investing community and beyond.

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William K. 4 weeks ago Member's comment

If the PLTR company develops software to somehow protect against spoofed caller IDs they will suddenly have far more income than they will know what to do with. Quite a good problem to have, really.

Otherwise, their profitability is closely tied to their creativity and skill in creating what their clients need. THAT is indeed an unknown variable.

Thanks for the educational and interesting post.