PLTR Stock Outlook: Why Palantir Is Poised to Double Again in 2024

InvestorPlace01-05

Palantir (PLTR) stock can deliver a repeat double in 2024. Its commercial business continues to become an increasingly important part of its business. Its profitability makes it eligible for the S&P ...

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krish3232
01-05
krish3232
The best AI company in the world. Has helped new zealand, Australia, USA, UK and more. $40 by 2024

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Shareholders from both companies could have another strong year, unless something disrupts AI in 2024.The company said in its Q3 2023 press release that it expects $2.218 billion in revenue in 2023 at the midpoint of its guidance. Based on its net income margin in the third quarter of 12.8%, it could earn as much as $284 million in GAAP profits in 2023. While not m","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","BK4532":"文艺复兴科技持仓","LU0109392836.USD":"富兰克林科技股A","BK4539":"次新股","BK4548":"巴美列捷福持仓","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4534":"瑞士信贷持仓","BK4549":"软银资本持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4547":"WSB热门概念","LU0444971666.USD":"天利全球科技基金","BK4535":"淡马锡持仓","LU0289961442.SGD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"AX\" (SGD) ACC","BK4551":"寇图资本持仓","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0149725797.USD":"汇丰美国股市经济规模基金","PLTR":"Palantir Technologies Inc.","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4550":"红杉资本持仓","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4559":"巴菲特持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0079474960.USD":"联博美国增长基金A","BK4554":"元宇宙及AR概念","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","BK4112":"金融交易所和数据","LU0056508442.USD":"贝莱德世界科技基金A2","BK4553":"喜马拉雅资本持仓","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD"},"translate_title":"PLTR股票展望：为什么Palantir将在2024年再次翻倍","themeId":"d5a154ad31824bafb78dd4878d009f3e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLTR":1.1},"content_text":"Palantir (PLTR) stock can deliver a repeat double in 2024. Its commercial business continues to become an increasingly important part of its business. Its profitability makes it eligible for the S&P 500.Of the top-performing names from 2023 that Morningstar covers, Palantir (NYSE: PLTR) stock had the fifth-best return, up 167.5% despite losing 14% in December. As Morningstar pointed out, Palantir and Nvidia (NASDAQ: NVDA) were successful because of their mutual focus on AI. Shareholders from both companies could have another strong year, unless something disrupts AI in 2024.Except for Coinbase Global (NASDAQ: COIN) at 2.17, Palantir has the highest price-to-fair value ratio of the top five-performing stocks in 2023, at 1.32, which suggests PLTR, at least in their mind, is overvalued by 32%. So, who should buy PLTR stock in 2024? I’d say anyone with above-average risk tolerance and a 3-5 year holding period. Anyone not meeting these two criteria could be sorely disappointed because PLTR is not well-loved on Wall Street, which means its “Wall of Worry” is steeper. I grew to like Palantir CEO and co-founder Alex Karp’s long-term strategy for the big data software company. This could be the year analysts start to take it seriously. Here’s why. Ignore Government Business for NowOne big issue against Palantir is the fact it relies so heavily on government contracts. In Q3 2023, they were $308 million, 12% higher year-over-year, accounting for 55.2% of its $558.2 million overall. That was down 210 basis points from Q3 2022.However, its overall revenue in Q3 2023 was 16.8% higher because of a 23% increase in its commercial revenue, which accounted for nearly 45% overall. Its U.S. commercial revenue grew 33% YOY in the quarter, accounting for 46.2% of its overall commercial revenue. So, based on $87.2 million in U.S. commercial revenue in Q3 2022 [calculated as $116 million in Q3 2023 divided by 1.33 (the 33% YOY increase)] divided by $204.0 million in Q3 2022 commercial revenue, its U.S. commercial revenue as a percentage of overall commercial revenue increased by 350 basis points in Q3 2023 from 42.7% a year ago. As long as it continues to grow commercial business (34% YOY, including 37% in the U.S. for 2023) increased revenue and profits will come. Four Quarters of GAAP ProfitsIn Q3 2022, Palantir’s GAAP loss was $124 million. Since then, it reeled off GAAP quarterly profits of $31 million, $17 million, $28 million, and $72 million in Q3 2023. That’s $148 million in trailing 12-month net income. As a result of the four consecutive quarters of GAAP profits, it is eligible for the S&P 500. That’s something to look forward to in 2024. The company said in its Q3 2023 press release that it expects $2.218 billion in revenue in 2023 at the midpoint of its guidance. Based on its net income margin in the third quarter of 12.8%, it could earn as much as $284 million in GAAP profits in 2023. While not massive, they’re trending in the right direction.  As of September 30, Palantir’s TTM adjusted free cash flow was $501.5 million, a margin of 24%. That’s very close to Apple’s (NASDAQ: AAPL), which was 26% in fiscal 2023 (September year-end) and 21% in the latest quarter. So, despite getting far less love from analysts than Apple, Palantir is inching closer to the free cash flow generation capabilities of the iPhone maker and other favorites of Wall Street. This tells me that Palantir’s valuation isn’t nearly as expensive as some might think. Further, because of the double-digit cooldown in December, its shares are trading lower than in early November.   The Bottom Line on PLTR StockPalantir currently operates four major platforms: Gotham, Foundry, Metropolis, and, as of mid-September, AIP, its AI platform. As of Q3 2023, it had over 150 AIP users. When it reports Q4 2023 results in February, investors should expect that number to be significantly higher. If you’re a contrarian investor who doesn’t mind above-average volatility, I’m not sure how to avoid Palantir’s compelling AI story in 2024. It’s a buy for aggressive investors.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":259837171806448,"gmtCreate":1704447173599,"gmtModify":1704447256465,"author":{"id":"4138233220728482","authorId":"4138233220728482","name":"krish3232","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4138233220728482","authorIdStr":"4138233220728482"},"htmlText":"The best AI company in the world. Has helped new zealand, Australia, USA, UK and more. $40 by 2024","listText":"The best AI company in the world. Has helped new zealand, Australia, USA, UK and more. $40 by 2024","text":"The best AI company in the world. 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