Palantir Technologies is set to be the stock market champion of 2024, experiencing a remarkable 350% year-to-date increase. The company gained entry into the S&P 500 in September and the Nasdaq-100 this month, leading all S&P 500 members in gains. Their success is attributed to strong demand for their data software and AI capabilities, highlighted by a significant contract extension with the U.S. Army. While some analysts foresee continued potential, others express caution, with over half maintaining a “hold” rating due to concerns over valuation and future growth sustainability.
