Palantir Technologies Inc. (PLTR – Get Rating) teams up with the intelligence community to deploy software platforms that aid in counterterrorism investigations and endeavors. Their products include Palantir Gotham, a distinctive platform designed to decipher patterns within extensive datasets.
The company is benefitting from the Artificial Intelligence (AI) boom. This year, the company launched its Artificial Intelligence Platform (AIP), which allows large language models to operate within the confines of the enterprise and on privately held data.
CEO Alexander Karp, in a letter addressed to shareholders, announced that AIP already has users across more than 100 organizations. He also revealed that PLTR is in talks with 300 additional enterprises to deploy AIP.
Notwithstanding these developments, there are some concerns surrounding PLTR’s financial valuation, which appears overly inflated. In terms of forward EV/Sales, PLTR is trading at 13.01x, 368.3% higher than the industry average of 2.78x. Its forward Price/Sales multiple of 14.26 is 435% higher than the 2.67x industry average.
Taking into consideration these factors, it might be prudent to review the trends of PLTR’s key financial metrics to understand why it could be wise to wait for a better entry point in the stock.
Analyzing Palantir Technologies’ Financial Health: A Comprehensive Look into PLTR’s Performance Metrics from 2020 to 2023
The trailing-12-month revenue trend of the PLTR exhibits a general…
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