10 Best Long Term Growth Stocks to Buy According to Billionaires

5. Palantir Technologies Inc. (NASDAQ:PLTR)

5-Year Revenue Growth: ~31.01%

Number of Billionaire Investors: 16

Number of Hedge Funds: 64

Palantir Technologies Inc. (NASDAQ:PLTR) is engaged in building and deploying software platforms for the intelligence community to assist in counterterrorism investigations and operations. The company’s Artificial Intelligence Platform (AIP) can be a game-changer in enterprise AI adoption. Its capability to integrate, manage, and secure data while, at the same time, offering AI-powered insights places it well as a comprehensive solution for organizations that focus on leveraging AI throughout operations.  Palantir Technologies Inc. (NASDAQ:PLTR)’s success in implementing AIP throughout industries, such as healthcare, retail, manufacturing, and supply chain, exhibits its versatility as well as its potential for significant adoption.

Palantir Technologies Inc. (NASDAQ:PLTR)’s emphasis on interoperability and ability to replace homegrown or greenfield offerings with AI-integrated workflows can place it as a critical player in the broader enterprise AI ecosystem. With the platform continuing to evolve and expand its capabilities, it can act as a critical tool for organizations that seek to harness the power of AI and data analytics. As the companies continue to recognize the need for AI-driven decision-making and operational efficiency, Palantir Technologies Inc. (NASDAQ:PLTR)’s AIP can play a critical role in ramping up AI adoption throughout sectors.

Baron Funds, an investment management company, released its Q4 2024 investor letter. Here is what the fund said:

“Two software stocks that the Fund did not own, Palantir Technologies Inc. (NASDAQ:PLTR) and AppLovin Corporation, each gained more than 100% and accounted for 52% of the Benchmark’s gain during the quarter. At year end 2024, Palantir was valued at approximately 200 times its expected 2024 earnings, while AppLovin was valued at 80 times. The market cap of each exceeded $100 billion, and the two stocks represented nearly 8% of the Index. Neither company met our criteria for investment. The total impact on relative performance from Palantir and AppLovin was about 7 times higher than we have seen historically for two securities that are unique to the Benchmark, showing just how unparalleled the event was and something that we believe is unlikely to be repeated.”