Palantir Technologies (NYSE:PLTR) is on a mission to enable organizations to seamlessly integrate their data, decisions, and operations through its three key platforms: Palantir Gotham, Palantir Foundry, and Palantir Apollo. The company’s performance on the stock market has been nothing short of impressive, with a remarkable 179.4% gain year-to-date, substantially outperforming its industry’s 29.4% increase. Here are some compelling reasons why PLTR is worth considering for your investment portfolio:
Earnings Expectations
Strong earnings growth and stock price gains are often indicative of a company’s promising future. The Zacks Consensus Estimate for PLTR’s full-year 2023 earnings is 23 cents per share, signifying over 100% growth compared to the previous year. Notably, this estimate has been revised upwards by 4.6% in the past 60 days, demonstrating the confidence of brokers in the stock.
Positive Earnings Surprise History
Palantir has an impressive track record of beating earnings expectations. In three of the last four quarters, the company surpassed the Zacks Consensus Estimate, resulting in an average earnings surprise of 2.1%.
Growth Factors
Palantir Technologies is deeply committed to privacy and ethical practices, as evident through its dedicated Privacy and Civil Liberties Engineering team. The company develops cutting-edge technologies, including precise access controls, sensitive data detection, and federated search capabilities. Comprehensive audit logging ensures lawful data usage, while tools for data integrity, retention, and deletion adhere to regulations, empowering users to manage data securely and ethically.
To tackle complex customer challenges effectively, first-hand experience is indispensable. PLTR’s research and development team embeds itself with users to refine platforms and identify innovation opportunities. The company is committed to improving existing features, reliability, and usability using real-world insights from various industries and emerging technologies. Substantial investments are directed toward continuous platform enhancements and innovation, including deployment in disconnected environments and integration with complex hardware. In 2022, Palantir invested $702.51 million in research and development, a 14.3% increase from the previous year’s figure.
In summary, Palantir Technologies’ strong performance, optimistic earnings outlook, impressive history of earnings surprises, favorable industry ranking, and commitment to privacy and innovation make it a compelling choice for investors seeking a valuable addition to their portfolios.
Featured Image: Megapixl
