10 Best Most Active Stocks To Invest In Now

6. Palantir Technologies Inc. (NYSE:PLTR)

Volume: 17.973 million

Average Volume (3-Month): 58.14 million

Number of Hedge Fund Holders: 44

Palantir Technologies Inc. (NYSE:PLTR) specializes in software platforms for big data analytics for government and commercial customers. Its software helps organizations analyze large datasets to identify trends, patterns, and insights. The company is known for its work with government agencies, particularly in intelligence, defense, and law enforcement.

In June, Tampa General signed a 7-year expansion to use its AI platform (AIP) for care coordination. Panasonic Energy signed a 3-year expansion to use AIP across finance, quality control, and manufacturing operations. AARP is leveraging AIP to deliver personalized experiences.

In August, it partnered with Wendy’s for supply chain optimization and with Microsoft to bring AI to US national security. Later, it also partnered with Sompo, a Brazilian insurer.

It also secured a 5-year contract with the DEVCOM Army Research Laboratory to extend its Maven Smart System across all military branches. This initiative is valued at up to $229 million.

The second quarter of 2024 saw a 27% year-over-year revenue improvement. Palantir Technologies Inc. (NYSE:PLTR) made a significant impact across various industries with companies reporting impressive results, including Airbus increasing A350 production by 33%, BP cutting costs per barrel by 60%, and Jacobs Connect reducing power usage by 30%. Additionally, Panasonic decreased waste by 12%, ESI Group improved ERP harmonization by 70%, and PG&E lowered transformer ignitions by 65%.

This is a leading AI company with strong positions in infrastructure and oncology. The company’s focus on digital transformation and market share gains positions it well for growth. Revenue expectations from the AI ecosystem’s infrastructure build-out for Palantir Technologies Inc. (NYSE:PLTR) have grown significantly, suggesting a promising future.

Carillon Scout Mid Cap Fund stated the following regarding Palantir Technologies Inc. (NYSE:PLTR) in its first quarter 2024 investor letter:

“The top contributor to return for the quarter was Palantir Technologies Inc. (NYSE:PLTR). Sentiment improved on Palantir after it reported stronger than expected commercial customer revenue and free cash flow. U.S. commercial growth was especially encouraging, as U.S. commercial revenue was up by a large percentage year over year for the fourth quarter and U.S. commercial customer count grew nearly as much. We expect Palantir to become one of the premier artificial intelligence (AI) software providers, built on its Foundry and AIP platforms.”