Why Palantir Technologies (PLTR) rose last week?

We recently published a list of 10 companies that rose last week. In this article we will look at where Palantir Technologies Inc. (NASDAQ: PLTR) is against other companies that rose last week.

Last week so fleeting trade in the stock market as investors shrinked to respond from a number of positive and negative catalysts that triggered buying and sales positions everywhere.

On Friday alone, Wall Street’s biggest index in the red territory fell over renewed fear of growing merchant tensions from some of the world’s largest economies, combined with expectations of higher inflation.

However, 10 companies defied a wider market decline and released impressive gains in just a week’s trade.

To make last week’s biggest progress, we only considered the shares with at least $ 2 billion in market value 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 that manipulates a large network of code on virtual screens.

Palantir Technologies Inc. (NASDAQ: PLTR) hit a new record mound last week, touching the $ 116 level before investors made early profits and pulled its value lower to the end to $ 110.85 per day. Pcs.

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

Of total revenue, US revenue increased by 38 percent to $ 1.9 billion.

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

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

Overall PLTR ranks 2 .. On our list of companies that rose last week. While we recognize PLTR’s potential as an investment, our conviction lies in the belief that some AI stocks have a greater promise to deliver higher returns and do so within a shorter time frame. If you are looking for an AI stock that is as promising as PLTR but which deals with less than 5 times its earnings, check out our report on Cheapest AI storage.

Read next: 20 best AI stocks to buy now and Complete List of 59 AI companies under $ 2 billion in market capital

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