Perhaps the most interesting stock to buy in the market today is Palantir Technologies (NASDAQ: PLTR). The company, which is using its artificial intelligence (AI) platforms to completely alter how governments and commercial businesses operate, is up roughly 480% in the last year alone. So far in 2025, the stock is up almost 110%.
Along with that remarkable run-up is a story of obscenely high valuation. Investors are betting big on Palantir to the tune of some rarely seen valuations, such as a price-to-earnings ratio (P/E) nearing 700 and a forward P/E of 270.
Palantir has its second-quarter earnings call scheduled on Aug. 4, after the market’s closing bell. If it can maintain its growth momentum, its stock will continue to soar. However, a slowdown in growth could be devastating and let the air out of the Palantir balloon.