Palantir Stock Is Near Its Record. Here’s the Price at Which I’d Buy It.
Shares of Palantir Technologies (NASDAQ:PLTR) ended Oct. 9 at $209.05, their highest close ever. They’ve dipped since. But at around $198 as I write, the stock still sits only about 5% under that high.
It’s easy to see why investors keep paying up. The artificial intelligence (AI) data and analytics specialist grew its second-quarter revenue 93% year over year, and its profits rose even faster.
But at today’s price, investors pay around 170 times earnings for it, going by what Palantir earned in the last year — more than I’m willing to pay.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.