Palantir Soars on AI Growth, But Valuation Debated as Stock Hits New Highs
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Palantir stock has soared 200% in the past year due to the success of its new AI product AIP and strong financial results.
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Palantir hosted 800+ "boot camps" since launching AIP, fueling 35% customer growth in 2023.
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With a P/S ratio of 25.9, Palantir seems expensive compared to SaaS peers, but recent stock gains are justified.
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Despite the big run-up, Palantir stock is still 36% below its all-time high, presenting upside.
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Palantir looks well-positioned for long-term growth in AI, so it may be premature to take profits now.