Palantir Technologies (NASDAQ: PLTR) has been the S&P 500’s best-performing stock since the start of 2024, with a 940% increase. Its U.S. commercial business saw a 93% revenue growth in the latest quarter, hitting $306 million. However, Palantir’s current valuation is very high, trading at 275 times its projected earnings over the next 12 months. Investors have high expectations for the company, but it would need sustained earnings growth for many years to justify the valuation. While current shareholders may hold onto their shares, new investors may want to wait for a better entry point.

Read more at Nasdaq: Should You Buy Palantir Stock Right Now?