Palantir Technologies (NYSE:PLTR) reached a new all-time intraday high of $85.22 on Friday, continuing its upward momentum ahead of its fourth-quarter earnings report.
The stock closed at $84.14, rising 4.8 percent for the day. This increase puts it on track to surpass its previous record closing price of $82.38, which was set on December 24, 2024.
The rally in Palantir stock is part of a broader surge in the technology sector. The gains were partly driven by strong earnings from Apple, which exceeded expectations and provided an optimistic revenue forecast. Investors have been increasingly focused on companies that are benefiting from artificial intelligence growth, with Palantir Technologies (NYSE:PLTR) emerging as a key player in the sector.
Investors Look to Fourth-Quarter Earnings
Palantir Technologies (NYSE:PLTR) is scheduled to report its fourth-quarter and full-year 2024 earnings after the market closes on Monday. Analysts surveyed by FactSet expect the company to report earnings of 11 cents per share on revenue of $776 million for the quarter. For the full year, analysts forecast earnings of 38 cents per share on revenue of $2.8 billion.
The company has been one of the top-performing technology stocks over the past year, gaining more than 300 percent as it delivered consistent revenue growth and expanded its artificial intelligence-driven software offerings.
Analysts Remain Optimistic About Growth Potential
Wall Street analysts have expressed confidence in Palantir’s ability to capitalize on increasing demand for artificial intelligence solutions. Last week, analysts at Wedbush raised their price target on the stock from $75 to $90, maintaining an Outperform rating.
The firm cited significant demand for Palantir’s artificial intelligence capabilities and projected that the company will benefit from increased spending in the sector over the next several years.
Market Expectations and Risks
With Palantir Technologies (NYSE:PLTR) trading at record levels, investor attention is focused on its upcoming earnings report and forward guidance. If the company meets or exceeds expectations, it could reinforce confidence in its long-term growth strategy and sustain its recent stock gains.
However, any signs of slowing revenue growth or weaker-than-expected guidance could lead to a pullback.
Palantir Technologies (NYSE:PLTR) has positioned itself as a leader in artificial intelligence-driven software solutions, and its ability to maintain strong financial performance will be critical in determining whether its stock continues to climb in 2025.
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