Palantir Technologies (PLTR) has surged over 498% in the past year, surpassing giants like Procter & Gamble and Home Depot in market value. With a valuation exceeding $375 billion, the firm’s AI technology is in high demand, particularly in the defense and public sectors, with revenue from the U.S. government up 45% year-over-year.

The company’s Q1 report showed revenue hitting $884 million, a 39% increase from the previous year, with net income reaching $214 million. Palantir is set to report its Q2 results on Aug. 4, with revenue and EPS estimates indicating further growth, solidifying its position as a top player in the AI infrastructure market.

Despite its success, Palantir’s high valuation multiples have raised concerns among investors. With a forward P/E ratio of 426.89x and a price-sales ratio of 128.67x, the company’s long-term success hinges on sustaining hypergrowth and maintaining its competitive edge in the commercial and governmental sectors. Analysts are closely watching for any updates on commercial growth, international expansion, and new contracts in the upcoming report.

Read more at Yahoo Finance: Up 498% in the Past Year, Is It Too Late to Buy Palantir Stock?