Palantir's current stock performance may seem daunting, with a 27% decline over the past 30 days and a forward price-to-earnings ratio of 290.74 ¹. However, despite the drop, the company has announced three new contracts, showcasing its ability to secure significant deals.
These contracts include a partnership with Societe Generale for retail banking solutions, a joint venture with TWG Global to redefine AI deployment in financial services, and a strategic partnership with EYSA for sustainable mobility solutions ¹. This demonstrates Palantir's strength in the commercial sector and its potential to expand into European markets.
While institutional investors have been selling the stock, many retail investors remain optimistic, choosing to hold onto their shares ¹. With Palantir's ability to secure new contracts and its potential for growth, it may still be a buy for those willing to take on the risk.
However, it's essential to consider the company's valuation and the potential for further declines. Palantir needs to secure approximately 40 new contracts every quarter to justify its current valuation ¹. If you're considering investing in Palantir, keep a close eye on its contract announcements and financial performance.
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