Palantir's AI Momentum Continues. Can It Keep Going, or Is It Too Late to Buy the Stock?
With high valuation comes high expectations, but Palantir Technologies (NASDAQ: PLTR) recently once again showed why it's one of the preeminent artificial intelligence (AI) growth stocks in the world. The stock jumped on the back of its strong second-quarter results, reported Aug. 4, and is up 575% over the 12 months ended Aug. 6.
With such a strong performance, investors may be wondering if the momentum can continue, or if it is too late to buy the stock. Let's take a closer look at its Q2 results and prospects to find out.
For the eighth straight quarter, Palantir saw its quarterly revenue growth accelerate. During this period,year-over-year growth went from 13% in 2023's Q2 to 48% last quarter. Meanwhile, its Q2 revenue of $1 billion easily topped management's forecast of $934 million to $938 million.
Source Fool.com
