3 Growing Tech Stocks In Buy And Hold Position - Palantir

3- Palantir

Named after all-seeing spheres in the Lord of the Rings series, the Palantir platform collects data from different sources and helps organizations make data-driven decisions. The company, which derives more than half of its revenue from government contracts, plans to become the US government's "default operating system". Palantir's software, which was used to hunt Osama Bin Laden in 2011, was at the center of the controversy, but the Immigration and Customs Enforcement (ICE) office used Palantir software to locate and deport immigrants. However, the company continues to win new government contracts as business businesses expand. Palantir's revenue increased by 47 percent in fiscal year 2020 to reach $ 1.1 billion. Average revenue per customer increased by 41 percent to $ 7.9 million, while average revenue from the top 20 customers increased by 34 percent to $ 33.2 million. While the total number of customers with an annual return of more than $ 5 million increased 54 percent, the number of customers with an annual return of more than $ 10 million increased by 50 percent. Palantir's net loss was $ 1.17 billion from $ 580 million, driven by equity-based compensation expense and direct listing costs last September, while adjusted gross and operating margins widened. Palantir expects its revenues to increase by at least 30 percent in fiscal year 2021, but it will likely remain unprofitable. Palantir stock remains the favorite stock of both Cathie Wood and Robinhood investors, even though it is 23 times its next year's sales, and its long-term growth potential is hard to ignore.   You may also be interested in: 3 Growing Tech Stocks In Buy And Hold Position - Datadog