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Denver, Colorado-based Palantir Technologies Inc. is a leading builder of operating systems that builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. With a market cap of $187.7 billion, the company offers platforms for integrating, managing, and securing data that helps in interactive human-driven, machine-assisted analysis.

Companies worth $10 billion or more are generally described as “large-cap stocks,” and PLTR fits right into that category with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the software - infrastructure industry. PLTR's competitive advantages stem from its Gotham platform, strong relationships with government agencies, and deep industry expertise across various sectors.

Despite its notable strength, PLTR shares touched their 52-week high of $84.80 in the last trading session. Over the past three months, PLTR stock gained 123.3%, considerably outperforming the S&P 500 Index’s ($SPX) 5.4% gains during the same time frame.

In the longer term, shares of PLTR rose 241% over the past six months and climbed 373.2% over the past 52 weeks, considerably outperforming SPX’s six-month gains of 10.9% and 27% returns over the last year.

To confirm the bullish trend, PLTR has been trading above its 200-day moving average over the past year. The stock is trading above its 50-day moving average since early February, experiencing some fluctuations.

PLTR’s recent outperformance can be credited to its latest innovation, the Artificial Intelligence Platform (AIP), enabling its rapid penetration into the private sector and its collaborations with the major technology players like Amazon.com, Inc. , and Microsoft Corporation , allowing it to expand its commercial footprint in the market. Moreover, its performance was also driven by robust customer demand, strong sales pipeline, and the acquisition of new customers due to the immense popularity of AIP.

On Nov. 4, PLTR reported its Q3 results, and its shares closed up more than 23% in the following trading session. Its revenue of $725.5 million, beat Wall Street forecasts of $703.7 million. The company’s adjusted EPS was $0.10, surpassing analyst estimates of $0.09.

PLTR’s rival, CrowdStrike Holdings, Inc. has lagged behind the stock, 4.4% losses over the past six months and 41% gains over the past 52 weeks.

Wall Street analysts are cautious on PLTR’s prospects. The stock has a consensus “Hold” rating from the 17 analysts covering it, and it has a mean price target of $42.80.

On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.

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