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Palantir Technologies, Inc. (NYSE:PLTR) stock may not have seen explosive growth but it has become a quite favorite with retail investors and as the company celebrates its fourth anniversary as a public company, here’s a look at how the company has rewarded its investors.
The Company: Palantir was co-founded by venture capital investors Peter Thiel, Alex Karp, its current CEO, and Stephen Cohen in 2003. Headquartered in Denver, Colorado, the company provides data analytics software and services to government and business clients.
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The company currently has four platforms, namely
Gotham is primarily used across government functions and it helps users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants. It is also now offered to commercial customers. Foundry creates a central operating system for clients’ data. Apollo enables the rapid, secure delivery of software and updates across businesses, and also enables customers to securely deploy their own software in virtually any environment.
AIP allows responsible AI-advantage across the enterprise by using primary, core components built to effectively activate LLMs and other AI within any organization.
In the most recent quarter, Palantir reported revenue growth of 27% to $678 million, with government customers accounting for $371 million or roughly 55% of the total revenue. The commercial segment contributed $278 million. Lending credence to the ongoing momentum, the company closed 27 deals valued at over $10 million during the quarter and the customer count climbed 41%.
The company also raised its revenue guidance for the full year to $2.742 billion to $2.750 billion.
Palantir was added to the broader S&P 500 Index in September.
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Tech bull and Wedbush analyst Daniel Ives recently raised the price target for Palantir shares from $38 to $45, citing his increasing confidence in the enterprise-driven AIP Strategy. More enterprises are strategically discussing the potential deployment of AIP, in 2025, said Ives. “With AI spending expected to ramp significantly within IT budgets in 2025, we believe the Messi of AI – Palantir is in a prime spot to continue expanding its pipeline/deal flow,” he added.
The Palantir IPO: Palantir went public on Sept. 2020 through a direct listing, and the reference price was $7.25 apiece, giving the company a valuation of $16 billion. The shares opened the session at $10 and traded in a range of $9.11 and $11.41 before closing at $9.50.
The Palantir Stock: Although the stock did not get a post-listing boost, it topped at $39.22 in early Feb. 2021 and went about a broad consolidation move throughout the year. The stock pulled back along with the broader market in 2022 and turned into a muted performance until mid-2023. Since then, the stock has staged a nice recovery.
$1,000 invested in Palantir at the stock’s closing price of $9.50 on the debut session would have fetched an investor 105 shares. The same shares would be worth about $3,916 based on Monday’s closing price. The hypothetical investment would have fetched a return of about 292%. The S&P 500 has gained a little over 71% during the same period.
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This article If You Invested $1,000 In Peter Thiel Co-founded Palantir When It IPOed 4 Years Ago, Here’s How Much You Would Have Now originally appeared on Benzinga.com
