Palantir Technologies (NASDAQ:PLTR) has experienced a remarkable surge in its valuation this year, with the company's stock price rocketing more than 330% year-to-date at the time of writing. This incredible upside has been driven by improving growth expectations for companies like Palantir focused on developing its artificial intelligence

As you can see, the company's price-to-sales ratio has nearly quadrupled over the last year. The P/S ratio isn't a perfect measure of valuation, but 67.5 is off-the-charts high. A P/S of 20 is typically considered expensive, even in an industry like software where stocks tend to earn high valuations.

Without a doubt, 2024 has been a fantastic year for Palantir Technologies ( PLTR 3.78%) and its shareholders. Yet as the year draws to a close, you may be wondering where Palantir stock will be one year from now. Here's what I think is most likely to happen.

Palantir Technologies, the artificial intelligence-software company whose biggest customer is the U.S. government, won new contracts with the Army worth up to $619 million. Shares are rising. The stock added 1.

Lee Munson, president and CIO of Portfolio Wealth Advisors, explained in a latest program on Schwab Network why he would consider buying Palantir on a dip:

The complex, still-evolving technology requires significant resources and expertise. Emelia Probasco is a senior fellow at Georgetown University’s Center for Security and Emerging Technology and an adviser to the Defense Department’s Defense Innovation Unit.

Demand for Big Data services is increasing. Palantir, a leader in the field, should benefit. Here are the forecasts and price predictions for PLTR stock.

Palantir and Anduril, two of the world’s largest defence firms, creating consortium that includes Elon Musk’s SpaceX and ChatGPT maker OpenAI

The move is the latest in a series of partnerships announced by defense tech companies this week seeking to put AI technology to greater use in military applications. On Wednesday, Anduril unveiled plans to work with OpenAI on anti-drone systems, and Palantir on Thursday signed an accord with Shield AI to collaborate on autonomous flight systems.

The artificial intelligence (AI) boom is behind Palantir's stock market success ... demand for the most advanced artificial intelligence technologies from our U.S. government and commercial ...

Columbus-based Physna's AI-powered 3D search engine will now integrate into software from fast-growing titan Palantir Technologies.