Palantir Technologies helps the government and other clients with big data analytics, which involves analyzing massive volumes of information to discover patterns and actionable insights. It monetizes these services through a software-as-a-service (SaaS) business model, where the client gets continuous access to its platforms for a recurring fee.

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Let's take a look at the state of Palantir and where its stock might be three years from now. Palantir exceeded already high expectations from Wall Street. The company brought in $725 million for the quarter -- handily beating the analyst average of $703 million -- representing more than 27% growth from a year ago.

Palantir Technologies (NYSE: PLTR) shares rocketed higher after the company once again reported accelerating revenue growth and boosted its full-year guidance. The stock has nearly tripled in price year to date.

Palantir's earnings continue to highlight the company's profitability. Read why PLTR stock valuation may seem excessive for some investors.

Shares of AI darling Palantir (NASDAQ:PLTR) went parabolic following the release of some exceptional quarterly earnings results. Now up more than 260% year to date, questions linger as to whether the AI-first big data analytics has what it takes to keep delivering profoundly strong quarters to support its remarkable rally.

Palantir Technologies (PLTR) and SoundHound (SOUN) stocks have delivered jaw-dropping returns in 2024. PLTR stock has surged about 242% year-to-date, and SoundHound has outpaced it with a staggering 258% gain.