Palantir Technologies (NASDAQ: PLTR) went public with a direct listing on the stock market in September 2020, and shares of the software platforms and data analytics provider delivered healthy gains since then.

Demand for Big Data services is increasing. Palantir, a leader in the field, should benefit. Here are the forecasts and price predictions for PLTR stock.

Palantir Technologies (PLTR) has captured Wall Street’s imagination with its AI-powered defense solutions in 2024. The tech stock has surged over 300% in the past year, valuing the company at a market capitalization of $165 billion.

Palantir's share price has outpaced the company's growth, pushing its price-to-earnings ratio to nearly 360. That's among the highest valuations on the market for any company. While analysts expect strong long-term earnings growth (27% annualized), it's nowhere near enough to justify such a high price.