Is Palantir Stock a Buy Now?
Shares of Palantir Technologies (NASDAQ: PLTR) more than tripled over the last 12 months, with most of that gain coming in just the last three months. Since the beginning of September, the stock has rocketed 134% at the time of this writing and commands a rich valuation of 64 times trailing-12-month revenue and 187 times this year's consensus earnings estimate.
It's fair to say Palantir might be the most loved artificial intelligence (AI) stock on Wall Street right now. Even AI chip leader Nvidia, which just posted a 94% year-over-year increase in quarterly revenue, trades at a much lower price-to-earnings ratio than Palantir.
Successful investing is often about shopping around for the strongest growth at the lowest valuation. As with shopping for anything else you might want to buy, the stock market is the same: You want to find the best quality at the lowest price.
Source Fool.com
