Palantir Technologies (NYSE: PLTR) is a software company specializing in big data analytics. It develops platforms that help governments, corporations, law enforcement, and other organizations integrate, visualize, and analyze large amounts of data that drive their decision making.

Like many tech stocks, it's enjoyed a recent turnaround, soaring over 150% year to date. Still, the stock is down more than 50% from its January 2021 highs. After such an impressive rally, new investors may hesitate to invest in the stock, fearing it's become overvalued.

But that's the wrong way to view it. Here's why.

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Source Fool.com