Palantir Technologies Inc.'s stock has decreased by 2.46% over the last five trading days, but it still boasts a year-to-date increase of 78.81%. Over the past year, the stock price has increased by more than 385%, and it has risen over 1,360% since going public in October 2020. The company was awarded various federal contracts, including a multi-million dollar immigration tracking system. The growing market for data services, driven by Palantir's cutting-edge platforms, is anticipated to increase significantly by 2028.
Palantir Technologies Inc. has seen its stock fall by 2.46% recently, yet maintains an impressive year-to-date gain of 78.81% and a year-over-year increase of over 385%.
The Trump administration awarded Palantir a federal contract to create a database on U.S. citizens, while also securing a $30 million immigration tracking contract from ICE.
Palantir, co-founded by Peter Thiel, stands prominently in the Big Data market, which is projected to grow substantially, from $220.2 billion in 2023 to $401.2 billion by 2028.
Predicting long-term stock performance for Palantir can be difficult, as Wall Street analysts typically focus on one-year price targets despite the interest in buy-and-hold strategies.
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