Palantir (NYSE:PLTR) is a big data analytics software company that helps government agencies and companies manage and analyze data. The company recently reported record-breaking results. Palantir generated $151 million in adjusted free cash flow, an increase of $441 million from the previous quarter. Revenues grew by 49% year over year, generating a total of $341 million in total revenue across both government and commercial sectors.
Palantir has three primary segments:
Although 56% of Palantir's revenues come from government-related clients, the company is making a bigger push into private enterprises. In fact, the company hired nearly 50 new salespeople in Q1 2021 alone. Because of the accelerated demand for predictive analytics from both governments and corporations alike, Palantir has very attractive growth prospects. But is Palantir stock a buy now? Please watch the below video for a breakdown of the business and opinions on the stock price.