2 Palantir stock rivals to buy in Q1 2025
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The share price of Palantir (NASDAQ: PLTR) has been on an upward tear, hitting the $100 milestone. The recent move was triggered by the company’s blockbuster Q4 2024 earnings report. The firm’s growth has stemmed from its venture into artificial intelligence (AI), which has bolstered its revenue with notable contracts from commercial and government clients. In the past year, PLTR has surged by a whopping 354%, reaching $110 as of the last trading session. PLTR one-year stock price chart. Source: Finbold Indeed, with PLTR seemingly taking off, there remain other alternatives that investors can buy a stake in, showing growth potential similar to that of the American software giant. In this line, Finbold has identified the following two equities that rival Palantir and are worth investing in now. Snowflake (NYSE: SNOW) Although Snowflake’s (NYSE: SNOW) stock growth has lagged behind Palantir, the company remains a key option for investors, having carved out a niche in the cloud data warehousing market. Most importantly, SNOW has room for further upside given the company’s venture into AI, offering a range of products. Some products under its technology umbrella include Snowflake AI, Cortex Search, and Cortex, which will likely provide the firm a competitive edge in AI. In addition, Snowflake is investing in AI infrastructure, including Nvidia (NASDAQ: NVDA) chips, to help customers deploy applications seamlessly. At the same time, SNOW is likely to benefit, considering the firm has a $350 billion addressable market and 34% of customers adopting data sharing. Notably, its target AI market is set to double to $342 billion by 2028 and is already boosting performance. In this regard, during Q3 FY2025, Snowflake saw a 55% year-over-year rise in remaining performance obligations (RPO), outpacing 29% product revenue growth. With $5.7 billion in RPO versus $3.6 billion in expected FY2025 revenue,…
Filed under: News - @ February 8, 2025 10:15 pm