Hailing from Colorado, Palantir Technologies (NYSE:PLTR) is widely known as a provider of security products and services. Notably, Palantir is working with Cloudflare (NYSE:NET) to help clients manage data in the cloud. And, as we’ll see, that’s not the only thing Palantir’s doing to advance data science. Yet, PLTR stock is still trading at a surprisingly low price point, which indicates a prime buying opportunity.
Palantir is so out-of-favor among investors now, it’s almost inexplicable. Presumably, it’s because financial traders shunned tech-centered, high-growth stocks of 2020 and 2021.
In other words, PLTR stock is the victim of a rotation out of risk-on assets. Yet, is it really risky to invest in a business that’s forging new paths in cybersecurity and data science? The answer is no, so now is the time to seriously consider a long position in Palantir Technologies.
What’s Happening With PLTR Stock?
Admittedly, there was a hype phase surrounding Palantir Technologies in 2020 and early 2021. This is a perfect example of how it’s wise to avoid overly crowded trades.
The trade became much less crowded in 2022 as PLTR stock, once valued at $35, declined to $7. The shares are still quite cheap on a relative basis, even though Palantir is inking big-money deals with clients like the British military.
Plus, Palantir Technologies continues to advance new, value-added products. For example, Palantir just released a Quality Management System for “life sciences” (i.e., healthcare) customers. With this product, healthcare organizations can more efficiently build and manage “clinical data repositories and statistical computing environments.”
Investors Should Consider Palantir’s Strategic Partnerships
Meanwhile, Palantir Technologies is working with fellow tech-sector innovators to provide best-in-class data-science and cloud-computing products. Even while PLTR stock is stuck at a low price point, Palantir’s drive to deploy best-in-class software and services is absolutely relentless.
Just recently, Palantir announced a team-up with open-source data science company Posit. Reportedly, Posit’s RStudio Pro will be integrated into Palantir Foundry. Thus, developers will have access to a robust enterprise data science platform, right there in Palantir Foundry.
Furthermore, Palantir Technologies is collaborating with famous cloud company Cloudflare. This strategic partnership’s stated purpose is to “help organizations cut cloud costs, increase control, and improve predictability over multi-cloud workloads.” It will involve various integrations between Cloudflare’s cloud architecture and Palantir products such as Foundry and Apollo.
What You Can Do Now
Palantir Technologies, working with a cloud-market superstar like Cloudflare, sounds like a tech-industry dream team. Moreover, the integration of Posit’s RStudio Pro into Palantir’s Foundry product should be a win-win for the companies involved as well as the clients.
It’s also encouraging to see Palantir courting healthcare clients with a potentially game-changing data-management product. All things considered, it’s amazing that PLTR is still trading at such a discount. This presents a window of opportunity to invest in Palantir Technologies today, as that window could close very soon.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
