Data Analytics Leaders Palantir and Snowflake Offer Growth Potential Despite Stock Slumps
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Palantir stock is down 38% from 2021 highs despite strong business growth, presenting an opportunity for long-term investors. Revenue grew from $595M in 2018 to $2.23B in 2023.
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Palantir is expanding from government into enterprise/small business clients. If service costs can be lowered, a bigger growth opportunity opens up.
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Snowflake provides data warehousing software essential for training AI systems, with its stock down 44% from peaks. Significant growth potential remains.
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Snowflake's product revenue is projected to hit $10B in fiscal 2029, a 30.4% CAGR over the next 5 years, accelerating from current 37% growth rate.
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With valuations still depressed despite the bull market, Palantir and Snowflake offer substantial upside for investors positioning for continued AI growth.