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

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.

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.

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.