Posted 2/11/2024, 10:30:00 AM
Palantir Impresses with Strong Q4 Results Driven by Robust Demand for AI Offerings, Though Valuation Remains Stretched
- Palantir impressed in Q4 with 20% revenue growth and 93M in GAAP net income due to strong commercial demand for its AIP platform
- It's a leader in AI/ML platforms and its new AIP product brings support for large language models, seeing unprecedented demand
- AIP bootcamps are compressing sales cycles and accelerating commercial customer acquisition
- The stock looks a bit expensive currently at 24.3x forward sales compared to a 2-year average of 12.9x
- While called the best pure-play AI stock, no one analyst would advise concentrating solely in one stock in the space