Palantir: Valuation Looks Detached From Business Realities, A Tactical 'Sell'
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Palantir has reported strong Q3 2024 results and increased its full-year guidance, leading to a 12% rise in its stock price to approximately $46 per share. However, concerns are raised about its high valuation, with a price-to-sales ratio of around 40x, suggesting the stock may be overvalued despite positive growth expectations.

November 05, 2024 | 12:30 pm
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Palantir's stock surged 12% after strong Q3 2024 results and increased guidance. However, its high valuation at 40x P/S raises concerns about potential overvaluation.
Palantir's strong Q3 results and increased guidance have positively impacted its stock price. However, the high price-to-sales ratio of 40x suggests that the stock may be overvalued, which could lead to a correction in the short term as investors reassess its valuation.
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