Palantir Technologies Inc. shares increased by 4.22% recently, contributing to a dramatic 96% rise since early April. The company's stock has surged nearly 405% over the last year and 1,473.58% since its public listing in October 2020. Palantir secured substantial federal contracts, including a $30 million agreement with ICE for an immigration tracking system. The Big Data market is poised for rapid growth, with projections suggesting an increase from $220.2 billion in 2023 to $401.2 billion by 2028. Palantir's key platforms, AIP, Foundry, and Gotham, drive this growth.
Shares of Palantir Technologies Inc. gained 4.22% over the past five trading sessions, continuing a rally that has seen the stock rise by nearly 96% since April 4.
According to platform provider Edge Delta, the market for data services is projected to grow from $220.2 billion in 2023 to $401.2 billion by 2028 - an increase of 82.2%.
Palantir's four operating platforms, AIP, Foundry, and Gotham, are key growth drivers for the company in the expanding Big Data market.
Finding data-driven assessments of where Palantir's stock will be in the medium and long term can be complicated, with Wall Street analysts limited to one-year price targets.
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