Despite the gains in the tech sector, there are undervalued tech stocks that present buying opportunities. Palantir and The Trade Desk are among these stocks. Palantir, a data analytics and AI specialist, saw its share price increase by 178% this year. Although the stock is down 55% from its peak in early 2021, it is still considered to have huge potential. The company launched its Palantir Artificial Intelligence Platform (AIP) software suite in May, and by the third-quarter report in November, nearly 300 organizations had signed up for AIP. The AI service is contributing to revenue growth for Palantir, with its Q3 revenue climbing 17% year over year.
The Trade Desk is another undervalued tech stock worth considering. The company is a leading provider of technology platforms for advertising campaigns. Despite the challenges faced by the advertising industry during the pandemic, The Trade Desk managed to grow its revenue and profit. In its most recent earnings report, the company reported revenue of $237.6 million, which was a 102% increase compared to the same quarter last year. The Trade Desk's programmatic advertising platform continues to attract new clients, contributing to its growth. With the advertising industry expected to recover further, The Trade Desk is positioned for continued success.
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