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2023-12-25

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Navigating Palantir’s Choppy Waters: What Investors Should Know Heading Into 2024

PLTR stock is still one of the stronger choices among AI stocks, but it may take some time for shares to enter 'rally mode' once again.

Navigating Palantir’s Choppy Waters: What Investors Should Know Heading Into 2024

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Those bearish on PLTR stock chalk up its strong 2023 performance to “AI hype.”</p><p>Yet while it’s easy to see why they jump to this conclusion, a substantive bull case can still be made. The use of artificial intelligence applications by commercial enterprises and government agencies keeps rising.</p><p>With this, Palantir (a developer of AI and machine learning software platforms) could handily exceed current growth and earnings forecasts.</p><p>But while Palantir has a lot to gain from the AI mega-trend, it’s still up for debate as to exactly when (and to what extent) the company’s AI catalyst will drive a re-acceleration in sales/big increase in profitability.</p><p>Therefore, expect the price action to continue being choppy in the near future. So, what’s the best move? Let’s find out.</p><h2 id=\"id_3228578464\">PLTR Stock Growth Prospects and Valuation</h2><p>Since January, Palantir shares have soared by around 170%. This puts it in the same league as other top “AI winners” in 2023. For instance, AI chip designer <strong>Nvidia</strong> (NASDAQ: <strong>NVDA</strong>), which has surged by an even greater amount since the start of the year.</p><p>However, unlike the situation with NVDA, where the company’s AI-related growth more-than-justifies its rally, with PLTR stock it’s admittedly easier for the skeptics to argue that its shares have moved up too far, too fast based on the buzz surrounding AI.</p><p>PLTR is up by triple-digits. However, based on sell-side forecasts, Palantir’s revenue is only expected to rise 16.7% (from $1.9 billion to $2.22 billion) for the full year 2023. Although revenue may rise by an even greater degree in 2024 (19.8%), forecasts for next year call for earnings growth of just 16%.</p><p>With this, I can understand those who are currently questioning PLTR’s rich valuation. On the surface, it makes little sense for this stock to trade for 70 times earnings. While at first glance Palantir may seem overpriced and over hyped, there may be a way for shares to sustain (and add to) this valuation.</p><h2 id=\"id_1809195206\">What May Drive the Next Big Rally</h2><p>Check out recent headlines about PLTR stock, and you’ll see quite a few regarding a negative development. I’m talking about news regarding possible issues between Palantir and its U.S. military clients over data ownership. That’s something that may affect the future performance of its governmental book of business.</p><p>However this may be yet another case of Wall Street analysts and commentators making a mountain out of a molehill. The company has denied that there is a data ownership conflict/that the company does not retain ownership rights to customer data.</p><p>Instead of being at risk of losing governmental business, it appears that Palantir is winning more business than expected.</p><p>As <em>InvestorPlace’s</em> Larry Ramer wrote last week, the company has bagged an unanticipated extension of its Vantage contract with the U.S. Army. That said, while the governmental business appears likely to keep humming along, that’s not where the PLTR needle-mover lies.</p><p>Rather, what could drive the next big surge for the stock will likely have to do with the growth of Palantir’s commercial business in the coming year. These results could handily beat the aforementioned expectations, which suggest only a moderate level of growth.</p><h2 id=\"id_1700189597\">The Takeaway</h2><p>In its latest quarterly earnings release, Palantir reported “beat and raise” results, and provided commentary that signals a strong likelihood of the company building on this success in subsequent quarters.</p><p>Demand for AI software from commercial clients isn’t slowing down. The lowering of interest rates this year is something else that could spur commercial demand for Palantir’s offerings, as an online commentator recently pointed out.</p><p>With this, there’s clearly an opportunity for Palantir to prove its skeptics wrong, and for its shares to not merely hold steady at current price levels (high-teens), but perhaps surge to $20, $25, or even $30 per share.</p><p>However, until the next earnings release (expected to happen in February), don’t expect major change in price action. Feel free to buy PLTR stock at current prices, but patience is key.</p></body></html>","source":"investorplace_stock_picks","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Navigating Palantir’s Choppy Waters: What Investors Should Know Heading Into 2024</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNavigating Palantir’s Choppy Waters: What Investors Should Know Heading Into 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-12-25 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/market360/2023/12/navigating-palantirs-choppy-waters-what-investors-should-know-heading-into-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For those bullish on the rising adoption of artificial intelligence technology, Palantir Technologies (PLTR) remains a strong choice for gaining exposure to this trend.However, lingering uncertainty ...</p>\n\n<a href=\"https://investorplace.com/market360/2023/12/navigating-palantirs-choppy-waters-what-investors-should-know-heading-into-2024/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","PLTR":"Palantir Technologies Inc.","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK4532":"文艺复兴科技持仓","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","BK4554":"元宇宙及AR概念","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0109392836.USD":"富兰克林科技股A","BK4567":"ESG概念","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU1721428933.USD":"法巴全球经典环境基金RH MD Dis","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4529":"IDC概念","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4121":"生命科学工具和服务","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4141":"半导体产品","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","BK4550":"红杉资本持仓","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","BK4551":"寇图资本持仓","BK4547":"WSB热门概念","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","BK4549":"软银资本持仓","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","BK4548":"巴美列捷福持仓","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0079474960.USD":"联博美国增长基金A","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0056508442.USD":"贝莱德世界科技基金A2"},"source_url":"https://investorplace.com/market360/2023/12/navigating-palantirs-choppy-waters-what-investors-should-know-heading-into-2024/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2393549579","content_text":"For those bullish on the rising adoption of artificial intelligence technology, Palantir Technologies (PLTR) remains a strong choice for gaining exposure to this trend.However, lingering uncertainty over Palantir’s future growth means that shares are likely to keep trading sideways in the near-term.While this doesn’t mean you need to bail on PLTR stock, keep in mind patience is key, as the next big rally may take time to take shape.Among AI stocks, both high-profile and more under-the-radar, Palantir Technologies (NYSE: PLTR) continues to be one of the top choices. Those bearish on PLTR stock chalk up its strong 2023 performance to “AI hype.”Yet while it’s easy to see why they jump to this conclusion, a substantive bull case can still be made. The use of artificial intelligence applications by commercial enterprises and government agencies keeps rising.With this, Palantir (a developer of AI and machine learning software platforms) could handily exceed current growth and earnings forecasts.But while Palantir has a lot to gain from the AI mega-trend, it’s still up for debate as to exactly when (and to what extent) the company’s AI catalyst will drive a re-acceleration in sales/big increase in profitability.Therefore, expect the price action to continue being choppy in the near future. So, what’s the best move? Let’s find out.PLTR Stock Growth Prospects and ValuationSince January, Palantir shares have soared by around 170%. This puts it in the same league as other top “AI winners” in 2023. For instance, AI chip designer Nvidia (NASDAQ: NVDA), which has surged by an even greater amount since the start of the year.However, unlike the situation with NVDA, where the company’s AI-related growth more-than-justifies its rally, with PLTR stock it’s admittedly easier for the skeptics to argue that its shares have moved up too far, too fast based on the buzz surrounding AI.PLTR is up by triple-digits. However, based on sell-side forecasts, Palantir’s revenue is only expected to rise 16.7% (from $1.9 billion to $2.22 billion) for the full year 2023. Although revenue may rise by an even greater degree in 2024 (19.8%), forecasts for next year call for earnings growth of just 16%.With this, I can understand those who are currently questioning PLTR’s rich valuation. On the surface, it makes little sense for this stock to trade for 70 times earnings. While at first glance Palantir may seem overpriced and over hyped, there may be a way for shares to sustain (and add to) this valuation.What May Drive the Next Big RallyCheck out recent headlines about PLTR stock, and you’ll see quite a few regarding a negative development. I’m talking about news regarding possible issues between Palantir and its U.S. military clients over data ownership. That’s something that may affect the future performance of its governmental book of business.However this may be yet another case of Wall Street analysts and commentators making a mountain out of a molehill. The company has denied that there is a data ownership conflict/that the company does not retain ownership rights to customer data.Instead of being at risk of losing governmental business, it appears that Palantir is winning more business than expected.As InvestorPlace’s Larry Ramer wrote last week, the company has bagged an unanticipated extension of its Vantage contract with the U.S. Army. That said, while the governmental business appears likely to keep humming along, that’s not where the PLTR needle-mover lies.Rather, what could drive the next big surge for the stock will likely have to do with the growth of Palantir’s commercial business in the coming year. These results could handily beat the aforementioned expectations, which suggest only a moderate level of growth.The TakeawayIn its latest quarterly earnings release, Palantir reported “beat and raise” results, and provided commentary that signals a strong likelihood of the company building on this success in subsequent quarters.Demand for AI software from commercial clients isn’t slowing down. The lowering of interest rates this year is something else that could spur commercial demand for Palantir’s offerings, as an online commentator recently pointed out.With this, there’s clearly an opportunity for Palantir to prove its skeptics wrong, and for its shares to not merely hold steady at current price levels (high-teens), but perhaps surge to $20, $25, or even $30 per share.However, until the next earnings release (expected to happen in February), don’t expect major change in price action. Feel free to buy PLTR stock at current prices, but patience is key.","news_type":1},"isVote":1,"tweetType":1,"viewCount":544,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":26,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}