Why Palantir Technologies (PLTR) Soared Last Week?

We recently published a list of 10 Firms That Soared Last Week. In this article, we are going to take a look at where Palantir Technologies Inc. (NASDAQ:PLTR) stands against other firms that soared last week.

Last week saw volatile trading in the stock market as investors scrambled to react from a series of positive and negative catalysts which sparked buying and selling positions across the board.

On Friday alone, Wall Street’s major indices fell into the red territory over renewed fears of growing trade tensions from some of the world’s largest economies, coupled with expectations of a higher inflation rate.

However, 10 firms defied a broader market slump, posting impressive gains in just a week’s trading.

To come up with last week’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Why Palantir Technologies Inc. (PLTR) Went Up Last Week?
Why Palantir Technologies Inc. (PLTR) Went Up Last Week?

A software engineer manipulating a vast network of code on virtual monitors.

Palantir Technologies Inc. (NASDAQ:PLTR) hit a new record high last week, touching the $116 level before investors took early profits, dragging its value lower to end at $110.85 apiece.

Friday’s valuation, however, still marked a 34.38-percent jump from its price of $82.49 registered last January 31, or a week earlier. The rally came following news that Palantir Technologies (NASDAQ:PLTR) achieved a 16-percent growth in net income in full year 2024 at $462 million, supported by a 29-percent jump in revenues at $2.87 billion.

Of the total revenues, US revenues surged by 38 percent to $1.9 billion.

In the fourth quarter alone, net income rose by 10 percent to $79 million, while revenues increased 36 percent to $828 million. US revenues grew 52 percent to $558 million.

Last week’s valuation pushed PLTR’s market capitalization to as high as $240 billion, surpassing the values of household names such as American Express ($221 billion), McDonald’s ($208 billion), and Disney ($207 billion).

Overall, PLTR ranks 2nd on our list of firms that soared last week. While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.

Source link

Visited 1 times, 1 visit(s) today

Related Article

How the Stock Market Performs After a Correction

I wrote piece last week called A Short History of Stock Market Pullbacks to show how often stocks are down certain levels over time: I like to do this when the stock market falls just as a reminder that it’s completely normal. Here’s the natural follow-up question I received: Do you have any charts or data

Halliburton Seizes Market Momentum with Automated Offshore Breakthrough

Halliburton Company’s stocks have been trading up by 4.38 percent amid strategic investments and growth optimism. Weekly Update Mar 23 – Mar 27, 2026: On Sunday, March 29, 2026 Halliburton Company stock [NYSE: HAL] is trending up by 4.38%! Discover the key drivers behind this movement as well as our expert analysis in the detailed

One Is Built for a Recession. Here’s Which One to Own.

It’s hard to find a truly recession-proof stock, but some companies are better equipped to weather recessions than others. When it comes to digital payments, Visa (NYSE: V) and Mastercard (NYSE: MA) run a virtual duopoly, but one is much better positioned to endure a recession than the other. If you had to choose between

Wall Street touts ‘grind lower’ trades as Iran weighs on stocks

(Bloomberg) — As the Iran war heads into a fifth week, Wall Street bank strategists have been touting trades that would pay off if a stock-market selloff is slow and steady. BBVA recently recommended April Euro Stoxx 50 Index put spreads, citing market complacency even in the face of a US troop buildup, while JPMorgan

The economics of war extend far beyond energy prices and stock markets

In the aftermath of the 2008 financial crisis, student groups pushed for curriculum change in economics. They wanted to learn about real-world economics beyond the stylized models that embroil students in mathematics. As an economics professor, my own students have asked me about issues like Gaza and Iran, when textbooks aren’t much help. Based on

1 Ridiculously Easy Way to Beat the Stock Market Experts

In the investment management industry, professional fund managers certainly get idolized. Whether it’s their sharp suits, clear commentary, or huge paychecks, it’s not surprising if regular investors want to emulate their strategies. After all, we’re all after big returns. But retail investors don’t need to do this. Here’s one ridiculously easy way you can beat

Intraday chart for The Hong Kong and China Gas Company Limited

Italy’s BFF Bank flags potential $920 million rise in past-due credit exposure

Market Closed – Borsa Italiana 12:45:00 2026-03-27 pm EDT 5-day change 1st Jan Change 3.180 EUR -0.56% +5.30% -66.53% Published on 03/29/2026 at 08:27 am EDT Reuters © Reuters – 2026 Mar. 20 European markets lack momentum, Brent falls below USD110 AN Mar. 19 Bearish sentiment grips markets; TIM deal sends Inwit tumbling AN Mar.

Over 700 Chinese A-share firms release financial results for 2025, with hard-tech sector posting notable performance

stocks File photo:VCG More than 700 Chinese companies listed on the domestic A-share market had released their financial results for 2025 as of Sunday, with hard-tech firms posting impressive earnings performances, according to domestic financial service provider iFinD.  Among the 737 A-share companies that had released their results, 634 reported profits, while 103 reported losses.

Fed Chair Jerome Powell Just Sent a Signal That Could Shake the Stock Market

Rising levels of inflation wrecked the stock market party in 2022. Could the same happen in 2026? Federal Reserve Chair Jerome Powell certainly thinks it is a possibility. After the Federal Reserve decided to keep interest rates unchanged at its latest policy meeting, the central bank’s leader said it is taking a wait-and-see approach to

Manager of Top 2% Fund Warns S&P 500 Poised for ‘Material Downside’

GQG Partners has been vocal about its view on the AI trade over the last several months, publishing a four-part report from September through early March detailing why it’s a bubble “on steroids” waiting to burst. In a call with Business Insider this week, the firm doubled down on its views, warning that the S&P

CPO-related stocks prominently feature among the list! Here’s an overview of popular stocks that received the most institutional research visits in March.

①The CPO concept stock Yuanjie Technology has become the second-highest priced stock in the A-share market. In addition, as of Friday’s close, Meinuohua achieved a 6-day 5-limit uptrend, and Rongjie shares gained four consecutive limit-ups. ②Compile a list of the top ten stocks in terms of institutional visits and reception volume from March 1 to

The Trump Bull Market Is About to End — but These Stocks Will Rise Anyway

I predict that the Trump bull market will soon end. But there are two somewhat troubling issues with this prediction that need to be addressed right off the bat. First, less than three months ago, I predicted that the S&P 500 (SNPINDEX: ^GSPC) would deliver a single-digit gain in 2026. However, an important part of

ET logo

Dow S&P 500 and Nasdaq slide as oil surges: Will the US stock market see a big crash ahead? How will Dow, S&P 500 and Nasdaq move — Are rising oil prices and 2% market drop signaling bigger market sell-off?

US stock market crash narrative is gaining momentum after a sharp sell-off wiped out billions in value in a single session. The S&P 500 dropped 1.74% to 6,477.16, the Dow Jones fell 469 points, and the Nasdaq Composite slid 2.38%, marking one of the weakest stretches in recent months. At the same time, WTI crude

Here’s ARK Innovation ETF’s Vision for the Future. Do You Agree With It?

With many exchange-traded funds, all an investor needs to believe is that the stock market will continue to rise. With more than a century of stock market history supporting that idea, that’s not a big ask. But when you move into the realm of actively managed ETFs, you have to believe in the vision that

How The Essent Group (ESNT) Investment Story Is Shifting As Analyst Views Converge

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Essent Group’s model fair value has been adjusted slightly, with the price target moving from US$68.31 to US$68.06 per share. This small shift sits alongside

“I Would Rather See You in Something That’s Really Much More Name-Brand”

Vermilion Energy Inc. (NYSE:VET) was featured on Mad Money as Jim Cramer shared his take on the stock amid a sliding macro environment. During the lightning round, a caller asked for Cramer’s thoughts on the stock, and he replied: You know what, look, you can get the same, you get a terrific return, not the

0
Would love your thoughts, please comment.x
()
x