Palantir Technologies Inc. (NASDAQ:PLTR) ranks among the best high growth high margin stocks to buy now. On February 3, UBS reduced its price target for Palantir Technologies Inc. (NASDAQ:PLTR) to $180 from $205, while keeping a Neutral rating on the company’s shares. The revision follows what UBS claimed was the company’s “astounding” financial performance, which included 70% total revenue growth and 137% increase in U.S. commercial revenues on a level surpassing $2 billion.
Palantir’s U.S. government operations, mainly Department of Defense deals, increased by 66% amid cost-cutting demands in the industry. According to UBS, Palantir’s financial success is unique in the software industry, since “no other public software company has financials close to that of Palantir.”
Truist Securities also confirmed its Buy rating on Palantir Technologies Inc. (NASDAQ:PLTR), citing the company’s impressive performance as a “AI pure-play victor” and adding that sales growth surged for the tenth straight quarter, hitting an annual revenue scale of more than $4 billion.
Palantir Technologies Inc. (NASDAQ:PLTR) is a software company that provides platforms to help organizations integrate, manage, and secure large datasets for human-driven analysis. Its two primary platforms are Gotham, used by government and defense agencies for intelligence and defense operations, and Foundry.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.