10 High Growth Cybersecurity Stocks To Buy

5. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 63

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading software company focused on supporting counterterrorism investigations and operations. The company’s innovative solutions range from cloud-agnostic tools like Apollo to sophisticated intelligence analysis with Gotham and Foundry.

In December 2024, Palantir Technologies Inc. (NASDAQ:PLTR) entered a strategic partnership with Booz Allen Hamilton to accelerate innovation in defense missions. They combined their strengths in AI and cybersecurity to enhance secure data integration and analytics for the U.S. Department of Defense. In February 2025, the company saw a sharp decline in share value as market analysts speculated on the consequences of a proposed 8% annual reduction in the defense budget. This development could affect Palantir Technologies Inc. (NASDAQ:PLTR)’s lucrative contracts with the Department of Defense.

Palantir Technologies Inc. (NASDAQ:PLTR) had strong performance for the full fiscal year 2024, with total revenue growing 29% year-over-year to $2.87 billion. U.S. revenue saw impressive growth, up 38%, driven by a 54% increase in U.S. commercial revenue, which reached $702 million, and a 30% rise in U.S. government revenue, totaling $1.20 billion. The company generated $1.15 billion in cash from operations while adjusted free cash flow surged to $1.25 billion. PLTR is one of the best high growth stocks in the cybersecurity sector.

Loop Capital analyst Mark Schappel has initiated coverage on the stock with a Strong Buy rating and a price target of $141.