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Palantir (NYSE: PLTR) gained popularity during the meme-stock craze, reaching as high as $35 in January 2021. Palantir is an American software company that specializes in big data analytics. It is traded on the New York Stock Exchange (NYSE).
They build platforms for integrating, managing, and securing data on top of which we layer applications for fully interactive human-driven, machine-assisted analysis.
The company was founded in 2003 by a variety of investors and entrepreneurs including Peter Thiel, who has also founded PayPal in the past.
Palantir is known for three projects in particular: Palantir Gotham, Palantir Metropolis, and Palantir Foundry.
Buying Palantir shares requires opening a brokerage account. Below are the necessary steps.
Step 1: Find an online broker
When searching for a good broker, commissions, trading platforms, and available markets are of great importance. We have also composed a list of the best online brokers for different investment products.
For Palantir, the following broker is recommended:
eToro
eToro offers access to a range of US stocks, Palantir included. The broker accepts clients from multiple regions, including the United States via its US entity.
eToro is a social trading platform that has quickly become one of the world’s leading trading platforms and brokers, with more than 30 million traders.
Investors can access over 2,400 different stocks while absorbing the regulatory fee that is required by US regulators.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
Step 2: Open your investment account
Once you choose your broker, a brokerage account is required. The procedure is fairly straightforward and similar to opening a standard bank account.
In some brokers the account opening process is fast. In some instances, it may take several days to be approved and completed.
Step 3: Fund your account
Palantir stocks can be purchased with money you deposit into your account. Bank transfer is the most popular method. Some brokers also offer credit/debit cards and even PayPal as a deposit method.
Step 4: Buy Palantir
Upon funding your account, search for Palantir in the trading platform offered by the broker, decide how many stocks you wish to buy, and send the order. Buying stocks at market price (market order) is near-instant in most cases.
About Palantir
Palantir is famed for 3 projects, Palantir Gotham, Foundry, and Apollo.
Gotham was initially used by law enforcement agencies and military services. The platform assists investigators with carrying out investigations. Over 70 companies are using Gotham AI.
The company decided to make the platform accessible to businesses, which led to the creation of Foundry.
The software company also gained several new contracts in the third quarter, with its customer count up 34% year-over-year, with U.S. commercial customers increasing 37% to 181 customers in the third quarter of 2023.
Foundry assists businesses in their decision-making. According to Forrester, Foundry gave 315% ROI for its users. Some of Palantir’s commercial clients are Eaton Corp. and HCA Healthcare.
Apollo on the other hand is designed for developers, providing full control over the deployment process. Apollo offers +90,000 deployments per week with 4.9 minutes to restore service.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
When Palantir was established, its clientele consisted of federal agencies of the USIC. Since then, the company has welcomed new clients including local governments as well as private healthcare and financial companies.
Should You Invest in Palantir?
At the time of this writing, Palantir gained +173% YTD. What served as good news for the AI company is that is eligible for inclusion in the S&P500.
In Q3 earnings, Palantir reported revenue of $558M (+17% from the prior year). The recent partnerships and a contract with the U.S. Army place Palantir in a good position among popular AI stocks.
Palantir partnerships
Palantir renewed its partnership with UniCredit according to a recent press release. The tech firm will deploy Palantir Foundry to the financial institution. The AI system will assist the bank with its digital transformation, which is intended to boost revenue and lower risks.
Palantir Technologies Inc. was awarded a new contract of $250M from the US Army. The contract is for up to 3 years to provide further capabilities of the Combatant Commands (COCOMs), Special Forces, and Intelligence Community.
Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.
Palantir stocks dividends
The dividends that a company pays are another metric that you should look at when considering whether or not it is a good investment. Dividends have both advantages and disadvantages.
Since they are a part of the profits that the company has gotten, this means that companies that pay out dividends have less money to invest in future capital projects compared to companies that do not pay dividends and instead retain their earnings.
On the other hand, if you are invested in a company that pays dividends, then you have an additional source of return on your investment alongside the capital appreciation in the share price of the company.
In any case, as mentioned earlier, dividends are a part of the profits of the company that it chooses to return to its shareholders. Since PLTR does not have any profits, it has not paid any dividends to its shareholders to date.
Conclusion
In this guide, we have reviewed Palantir stock and some basics of the company profile. Users can use this information to properly analyze the stock and make a decision on whether or not to invest in Palantir stock.
FAQs
What is Palantir?
Palantir is a technology company based in the United States that specialises in big data analytics.
Can I invest in Palantir stock from overseas?
Yes, most offshore and overseas brokers also provide access to the US markets, thereby enabling you to invest stocks listed on the NYSE and NASDAQ, including Palantir.
Nishit is a NGL Trader Analyst at Akari Trading. He has also worked as an analyst for Morgan Stanley and Onyx Commodities.
Before starting his career in finance, Nishit studied at the University of Warick where he was an active member of the Hedge Fund society. Due to his qualifications and experience, Nishit is considered an industry expert and enjoys writing content that could help traders to make informed decisions.
As well as writing, Nishit worked as Associate Editor for The Economic Transcript until 2021. He has also written for Newsweek and has good knowledge of current events that could affect the financial markets.
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