Palantir (PLTR) Stock Is Up 39% Over The Past Month: What's Going On?

Here's what's sparking increased attention for Palantir Technologies Inc (NASDAQ:PLTR) shares on Monday as the stock trades near its all-time high.

What To Know: Last week, news broke regarding the Saudi Crown Prince’s aspirations for substantial investment opportunities, ranging from $600 billion to $1 trillion, hinting at extensive development projects in the region.

Concurrently, former President Donald Trump voiced his support for stability and economic expansion in the Middle East, potentially creating avenues for U.S. technology firms like Palantir.

These ambitious Saudi investment plans could translate to heightened demand for Palantir’s advanced data analytics capabilities in large-scale regional initiatives.

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Moreover, increased geopolitical cooperation and stabilization efforts often lead to a greater reliance on data-driven insights, which could further benefit Palantir’s growth trajectory.

What Else: Adding to the positive momentum, Palantir recently reported robust first-quarter earnings, surpassing analyst expectations with revenue reaching $883.86 million. The company also raised its full-year guidance for key metrics, including revenue and free cash flow.

CEO Alex Karp highlighted a significant shift in software adoption and an impressive 83% Rule of 40 score. Palantir now anticipates full-year revenue in the range of $3.89 billion to $3.90 billion, exceeding prior forecasts.

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Palantir’s business model revolves around two primary platforms: Gotham, catering to government clients with a focus on national security and intelligence, and Foundry, designed for commercial enterprises to integrate and analyze vast datasets for operational improvements and strategic decision-making.

Both platforms leverage sophisticated artificial intelligence and machine learning algorithms to provide actionable insights.

Price Action: Palantir shares are trading lower by 2.1% to $126.80 Monday afternoon. Over the past week, PLTR stock has risen by 5.3% to $126.28, contributing to a 39% gain over the past month.

How To Buy PLTR Stock

By now you're likely curious about how to participate in the market for Palantir Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Palantir Technologies, which is trading at $126.15 as of publishing time, $100 would buy you 0.79 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, PLTR has a 52-week high of $133.49 and a 52-week low of $20.63.