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Palantir Stock SoarsThe Motley Fool
•83% Informative
Palantir Technologies stock surged 12.2% in Monday 's after-hours trading.
The software-as-a-service (SaaS) company's second-quarter 2024 results beat Wall Street's expectations.
Q3 revenue guidance also came in ahead of the analyst consensus estimate.
Management increased its full-year 2024 outlook for revenue.
Palantir stock is worth considering buying or at least watching if you're an investor interested in a company in the AI space that's profitable and growing at a fast clip.
Shares are trading at 73 times projected 2024 earnings, but it's not outrageous for the stock of a company that Wall Street estimates will grow earnings 32% this year and at an average annual rate of 85% over the next five years .
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