Palantir (PLTR) is the next $100 stock – Idaho Reporter

NYSE, Technology

Palantir (PLTR) is the next $100 stock

Why is Palantir (NYSE:PLTR) stock going up, you may ask? Because they are famous for being famous. Do you need another reason? Not in this market.

The software provider Palantir presented its business figures for the third quarter on Thursday last week and exceeded expectations in terms of sales. No one talks about $895M loss though. The stock’s dynamic upward trend therefore remains fully intact.

Overall, Palantir achieved sales of $289.4 million in the third quarter while $279.4 million were expected. The loss per share was 94 cents. A loss per share of only 24 cents was expected.

PLTR price forecast

Palantir forecast for the full year is increased and now the company expects sales from 1.07 to 1.072 billion dollars (before: 1.06 billion), which would correspond to 44 percent over the previous year growth. Adjusted operating profit is expected to be between $ 130 million and $ 136 million in 2020.

According to the company, several new deals were closed in the third quarter. Including the $91M deal with US Army , the National Institutes of Health for $36 million and a customer in the aerospace industry ($300 million).

What now?

With hydrogen (NKLA,PLUG,NEL) and EV stock (NIO,XPEV,TSLA,WKHS) rallies coming to a halt we may see some money moving into the new positions. My concerns going forward are- What are the growth expectations and what is the competitive landscape? Its products and services work equally well with different types of businesses. And the fact that it doesn’t have a hardware agenda is a very big selling point.

After Friday’s jump, PLTN stock is not trading at a discount anymore. While it’s attractive on a sentiment basis, the valuation is so bad I would be scared to get into it at this point. But who am I to stop the growth of PLTR share price? Because, it does look like PLTR will have a great week ahead, and once it hits $20 everything is possible.

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