Will Palantir Stock Hit the $50 Mark?

Palantir (PLTR) has been one of the best-performing large-cap stocks in 2024, registering a stellar gain of about 138.5% year-to-date, far exceeding the S&P 500 Index's ($SPX) gain of 20.1%. Palantir’s meteoric rise is largely fueled by soaring demand for its Artificial Intelligence Platform (AIP).

In addition to solid demand for its products, Palantir’s recent entry in the S&P 500 provided another boost to its stock price.