10 Stocks Jump on Impressive Earnings, Bullish Outlooks

1. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies soared to an all-time high on Tuesday, hitting a record of $106.91 apiece, before slightly losing momentum to end the day just up by 23.99 percent at $103.83 each.

Such investor confidence pushed the company’s market capitalization to jump to as high as $240 billion, surpassing valuations of household names such as American Express ($221 billion), McDonald’s ($208 billion), and Disney ($207 billion).

The rally came following news that it achieved a 16-percent growth in net income in full year 2024 at $462 million, supported by a 29-percent jump in revenues at $2.87 billion.

Of the total revenues, US revenues surged by 38 percent to $1.9 billion.

In the fourth quarter alone, net income rose by 10 percent to $79 million, while revenues increased 36 percent to $828 million. US revenues grew 52 percent to $558 million.

While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.