Should You Still Buy Palantir at 245 Times Forward Earnings?

Even in the high-flying artificial intelligence (AI) space, there aren't too many stocks that have performed better than the AI decision-making company Palantir (NASDAQ: PLTR). The stock is up over 88% this year and has reached a $334 billion market cap.Since going public in 2020, Palantir delivered an astounding total return of 1,440%. That's not too shabby for a company that may have had a tough time initially explaining to investors what it does and why its potential market is so huge. After the big run, Palantir now trades at roughly 245 times forward earnings. Can you still buy the stock at this massive valuation?Palantir's technology can pull in large datasets from different sources and then analyze that data to provide actionable insights. The company's Gotham platform helps users find hidden patterns buried within large, complex datasets, ranging from intelligence sources to reports from confidential informants. Gotham also helps users plan and carry out real-world responses to threats discovered on the platform. According to Palantir, Gotham is used across the government and has been used by the Department of Defense in counter-terrorism operations.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool