Palantir Just Delivered Phenomenal News to Investors, but Is It Too Late to Buy This Pricey Stock?

Amid market turmoil and questions about the economy ahead, investors wondered if Palantir Technologies (NASDAQ: PLTR) would show signs of a slowdown when it reported earnings earlier this week. After all, the software company depends on spending from the government and U.S. companies, and the government already has proposed significant budget cuts across departments. U.S. companies may face pressure from import tariffs ahead.However, Palantir's earnings in the first quarter roared higher. The company's government and commercial businesses reported double-digit growth, and customer count and deal value climbed. Palantir also continued on its path of successfully balancing growth and profitability. On top of this, Chief Executive Officer Alex Karp delivered phenomenal news to investors. (I'll get to that below.)Though all of this sounds fantastic, investors and analysts have questioned the idea of buying Palantir shares today for one specific reason: valuation. Though Palantir's earnings performance is strong, the stock is pricey, trading for a mind-boggling 186x forward earnings estimates. This is after the shares climbed more than 1,000% over the past three years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool