PLTR Stock Outlook: Why Palantir Is Poised to Double Again in 2024
Palantir 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 stock had the fifth-best return, up 167.5% despite losing 14% in December.As Morningstar pointed out, Palantir and Nvidia were successful because of their mutual focus on AI. 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