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16h ago

Palantir Surges to $375 Billion Market Cap and Enters Top 20 U.S. Companies

Investors await August 4 Q2 results after Palantir’s shares doubled this year to trade at 273 times forward earnings.

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Overview

  • Palantir’s shares have gained over 100% year-to-date and about 480% year-over-year, making it the S&P 500’s top performer.
  • The company’s market capitalization has reached roughly $375 billion, placing it ahead of Home Depot and Procter & Gamble among U.S. corporations.
  • In its most recent quarter, U.S. government revenue rose 45% to $373 million, and total sales climbed 39% to $884 million.
  • Its shares trade at approximately 273 times forward earnings, one of the highest valuation multiples among the 20 largest U.S. companies.
  • Piper Sandler initiated coverage with an ‘Overweight’ rating and a $170 price target, and analysts forecast 54% profit growth to $0.54 per share and 38% revenue growth for Q2.