S&P 500 Stock Surges 845%

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The Motley Fool

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Meet the Newest Addition to the S&P 500. The Stock Has Soared 845% Since Early Last Year, and It's Still a Buy Right Now, According to 1 Wall Street Analyst.

Summary

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79% Informative

Palantir Technologies ( NYSE : PLTR ) is one of the most recent additions to the S&P 500, joining the benchmark on Sept. 23 .

Since the dawn of generative AI early last year , Palanir stock has surged 845% as its expertise in the field drove robust revenue and earnings growth.

Wall Street analyst believes Palantar 's lofty valuation is just the beginning of the company's growth.

One analyst says Palantir Technologies "easily can be" a $ 100 stock.

The stock is currently selling for 160 times forward earnings and 40 times next year's sales.

That represents potential gains for investors of 65% compared to Wednesday 's closing price.

For those with an appropriate investing time horizon -- and a cast-iron constitution -- Palanir is tapping a vast opportunity within the AI ecosystem.

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