Palantir Technologies Inc. (NYSE:PLTR) was among the most active stocks this week as analysts laid eyes on oversold stocks. However, this is not the first time that Palantir is rising in popularity with the investors.
Last year, the company attracted the attention of Reddit investors who created a lot of hype around the stock. This allowed the ordinary investor to gain insights into the company.
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Palantir is a growth stock investing in big data analytics software for both governments and large corporations. The company was founded in 2003. Its systems are in use by the US government and many corporations in the US.
As big data analytics gain a mainstream position in corporate decision-making, Palantir is expected to continue bagging more clients each year. It is expected to have a high growth rate exceeding 30%. Though still not profitable, high growth and gross margins for Palantir can be considered as a pointer that the stock will perform better in the future.
Palantir valued at $12, highest ever price at $45
Palantir is currently valued at $12.68. MACD analysis indicates that share has had bearish momentum which is waning as the divergence from signal closes. The relative strength index at 33.99 just emerged from the oversold region with the price rising from a low of $10.
This may be a marker for the beginning of an upward trend. The stock can therefore be expected to show significant gains, with the expectations that it would stabilize at prices between $16 and $20.
Summary
Palantir is a high-growth stock supported by the strong adoption of its big data analytics software by corporations in the United States. It has strong prospects both in the United States and the rest of the world. Patient investors could multiply their capital by a factor of 4x if invested in the stock for the medium term.
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