Palantir’s **PLTR** Stock Soars 170% as Revenue Hits Record $1.18B
Palantir, a data analytics company, has seen its market valuation soar, surpassing tech giants like Microsoft despite having lower revenue. Its share price, or pltr, has skyrocketed 170% this year alone, multiplying nearly twentyfold in the past five years.
Founded in 2003 by Peter Thiel and Alex Karp, Palantir has grown significantly, particularly in its U.S. commercial business which expanded by 121%. Government contracts also grew, by 52%, contributing to its record revenues. The company's success can be attributed to its government clients and contracts for threat detection and data analysis. This quarter, Palantir's revenue surged 63% year-over-year to $1.18 billion, with profit soaring to $476 million.
Palantir's valuation is high, with a price-to-earnings ratio between 300 and 700 and a price-to-sales ratio in the triple digits. The company expects full-year revenue to reach approximately $4.4 billion and operating profit to hit $2.15 billion. Co-founder Alex Karp advocates for closer collaboration between the state and Silicon Valley in his book 'The Technological Republic'.
Palantir's rapid growth and high valuation have been driven by its government contracts and expanding commercial customer base. Despite apprehension surrounding co-founder Peter Thiel's political views, the company continues to attract admiration for its independent worldview and investment record. With record revenues and elevated market appraisal, Palantir expects to reach approximately $4.4 billion in full-year revenue and $2.15 billion in operating profit.
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