Palantir Share Forecast September 2021 – Time to Buy PLTR Stock?

Shares of the leading American software organisation Palantir Technologies (NYSE: PLTR) are in the green today, after closing at $28.71 on September 19th (20:48 UTC-4). Palantir Technologies, the large-scale data software company, is growing exponentially, and building the foundation that might generate significant revenue growth in the future. Not only is Palantir expanding at a rapid pace, but it now has a large number of federal clientele, which contributes to the improvement of its earnings reports. Palantir is getting much attention from Wall Street as well, but is that enough reason to invest in the share? Let’s find out!

Palantir – Technical Analysis

As per the financial statement from Palantir, the market cap of the software company is at $ 56.074 billion with total assets worth $3.076 billion. Whereas the total revenue for 2020 is at $1.09 billion, it was at $742.55 million a year ago.

Moving averages for PLTR such as Exponential Moving Average (10)(27.02), Simple Moving Average (10)(26.78), Exponential Moving Average (20)(26.19), Simple Moving Average (20)(26.08) are pointing towards buying. Oscillators including Relative Strength Index (14)(70.72), Stochastic %K (14, 3, 3)(93.32), Average Directional Index (14)(23.14), Awesome Oscillator(2.13), are neutral, on the other hand.

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Recent Developments

Palantir is a software organisation that helps federal agencies and organisations to assemble data in order to make more sophisticated decisions. Although Palantir has just 169 clients as of the end of Q2, these clients invest quite substantially with the company every year. Palantir announced sales of $376 million in the same period that ended June 30, up 49 per cent from the Q2 last year. Its commercial income in the United States climbed at a 90 per cent annual rate, which was quite remarkable.

Furthermore, since the beginning of the year, the number of business clients has increased by 61% and the company claims that its income will increase by at least 30% each year until 2025.

Palantir’s commercial growth plan is rather long-term which reflects in its investment in several smaller businesses, most of which have been publicised as acquisitions through special purpose acquisition companies, or SPACs. Since the first quarter, Palantir has invested $310 million in 14 SPACs and early-stage start-ups. Palantir also made significant investments, with the satellite data firm BlackSky Technology recently and its investments will be updated in its next quarterly report.

Should You Buy Palantir Shares?

Since data is growing exponentially, it is believed that 90 per cent of the world’s data was generated in the last two years. Increasing data points are being captured all the time, more devices are creating data points, and more people are using that data. Palantir’s Gotham platform assists government organisations in clarifying their data in order to produce insights and improve decision-making, while its Foundry platform serves the same purpose for business clients.

Palantir typically takes on clients at a loss in order to establish that its platform is an important part of its business. Palantir’s sales and the partnership become even more successful as Gotham/Foundry develops and enhances its value to its customers. In the second quarter, sales from the company’s top 20 clients increased by 36% year over year to $39 million per customer. The company’s total profitability is now aided by these major clients.

Palantir share is pricey, with the value fluctuating around $28 per share currently and $1.5 billion in revenue projected for the entire year 2021. But despite its high valuation, PLTR appears to be an attractive investment option due to the potential market and the company’s rapid free cash flow expansion.

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About Prodosh Kundu PRO INVESTOR

Prodosh Kundu is the Founder & CEO of SERP Consultancy, a prominent Digital Marketing Company in Kolkata, India. Starting his career in 2004, he is a Google AdWords certified internet marketing professional, SEO consultant, strategist, and analyst. With his strong understanding of financial market regulations, stocks, blockchain technology, cryptocurrency, & forex, Prodosh has written thousands of articles, blogs, broker reviews, guides, and offered critical analysis & recommendations on investment opportunities!