How to buy Palantir (PLTR) shares in Australia
Want to buy Palantir stocks but not sure how to do it? Check out this guide made specifically for Australian investors who want to start investing in Palantir shares.
This article focuses on how to buy specific securities, however, it is not a recommendation to invest in them and should not be taken as financial advice. Do your own research and make your own decisions, or even consider getting advice from a licensed financial adviser before investing.
Palantir Technologies Inc is a dynamic and innovative American software company that has garnered significant attention in the tech industry.
Founded in 2003 by former PayPal employees, including renowned investor Peter Thiel, Palantir specialises in data integration and analytics solutions, making it a key player in helping organisations harness the power of data for informed decision-making.
With a distinctive approach and a range of cutting-edge products, Palantir has found success in both government and commercial markets, shaping the future of data-driven insights across various industries.
How to buy Palantir shares in Australia
Want to start buying PLTR shares but not sure how? Learn how to buy Palantir stock on the Stake stock investing platform below.
1. Find a stock investing platform
To buy U.S.-listed companies, you'll need to sign up to an investing platform with access to the U.S. stock market. There are a number of share trading platforms in Australia, of which Stake is one.
2. Fund your account
Complete an application with your personal and financial details. Fund your account with a bank transfer, debit card or even Apple/Google Pay.
3. Search for Palantir or PLTR
Find the share by name or ticker symbol: PLTR. Do your own research to ensure it is the right investment product for your own circumstances.
4. Choose an order type and buy PLTR shares
Buy on any trading day with a market order, limit order or stop order. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.
5. Monitor your investment
Optimise your portfolio by tracking how your stock and the business perform with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your stock.
👉 Learn more about Stake pricing to discover how seamless investing in stocks can be.
Palantir Technologies Inc overview
Palantir Technologies is a prominent American software and data analytics company founded by a group of former PayPal employees, including billionaire investor Peter Thiel. The company's name is inspired by the mystical "seeing stones" from J.R.R. Tolkien's "The Lord of the Rings," which were used for communication and surveillance, reflecting Palantir's core mission of providing powerful tools for data analysis and decision-making.
Palantir's primary focus is on developing data integration and analytics platforms that empower organisations to make informed decisions by harnessing the power of their data. The company has two main products: Palantir Gotham and Palantir Foundry.
- Palantir Gotham is designed for government and intelligence agencies, providing them with advanced tools for data fusion, analysis, and visualisation to enhance national security and intelligence efforts.
- Palantir Foundry is tailored for commercial enterprises, enabling them to manage and analyze data from various sources to gain valuable insights into their operations, customers, and markets.
One of Palantir's key strengths is its ability to handle vast and complex datasets, making it a valuable tool for organisations in fields such as healthcare, finance, and manufacturing. It has been employed in diverse applications, from tracking the spread of infectious diseases to detecting fraudulent financial transactions and optimising supply chain operations.
Palantir's technology has not been without controversy, particularly concerning data privacy and ethics. Its close ties to government agencies have raised concerns about the potential misuse of its software for surveillance purposes. However, the company has taken steps to address these concerns and ensure responsible data usage.
Palantir share price performance
Since its initial public offering on the New York Stock Exchange in September 2020, Palantir's stock has embarked on a rollercoaster journey. It reached a high of over $45 and a market cap of US$130b in January 2021 before plummeting to below $10 in March 2022. Recently, it has been staging a recovery, currently trading around $16. Several factors underpin this resurgence.
- Palantir has witnessed robust revenue growth, with a 49% YoY increase in its most recent quarter. It has also expanded its customer base, securing 100 new clients, bringing its total to over 180.
- Palantir's strategic foray into new markets, including healthcare, finance, and European government agencies through partnerships, has diversified its revenue streams, lessening its reliance on the US government.
- The heightened focus on artificial intelligence (AI) and big data analytics has cast Palantir's platform as a vital resource for data-driven decision-making across industries.
These factors have fuelled optimism among investors, reflected in the stock's recent ascent.
However, Palantir remains a young, non-profitable entity, facing increasing competition in the AI and data analytics sphere. Consequently, its long-term stock trajectory remains uncertain.
Palantir stock P/E ratio
As of 15 September 2023, PLTR stock P/E ratio is around 280.42. The price-to-earnings ratio is constantly changing, as the share market price varies every day and new earnings reports come out every quarter.
🎓 Learn more: What is considered a good P/E ratio?
Palantir EBITDA
Palantir’s Earnings Before Interest, Taxes, Depreciation and Amortisation as of June 2023 is $18.47m (+150.13% YoY).
Do Palantir shares pay dividends?
No, Palantir Technologies ($PLTR) does not pay dividends to its shareholders.
It's important to note that some technology companies, especially those in the early growth stages, reinvest their earnings into research, development, and expansion rather than distributing dividends to shareholders. Such companies may prioritise using their profits to fuel further growth and innovation.
Has Palantir stock ever split?
As of the writing of this article, Palantir Technologies ($PLTR) has not undergone any stock splits.
Which ETFs have exposure to Palantir?
The top 5 ETFs with the highest exposure to Palantir stock are:
- $IPO - Renaissance IPO ETF
- $DAT - ProShares Big Data Refiners ETF
- $MEME - Roundhill MEME ETF
- $SFYF - SoFi Social 50 ETF
- $BUZZ - VanEck Social Sentiment ETF
Looking for other shares to invest in?
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Palantir Technologies Inc FAQs
Is Palantir worth investing in?
Deciding whether Palantir is worth investing in depends on your individual investment goals, risk tolerance, and research. It's a high-growth tech company with a history of stock price volatility. Consider your portfolio diversification and long-term objectives before investing.
Is Palantir overvalued?
Investing in Palantir presents the potential for significant growth, driven by its advanced data analytics solutions, diversification across government and commercial markets, unique data expertise, and experienced leadership.
However, it comes with notable risks, including stock price volatility, dependence on government contracts susceptible to political changes, and ethical concerns regarding its government projects, which may affect its long-term prospects. Prospective investors should carefully weigh these factors against their investment objectives and risk tolerance. Analyse the company thoroughly before deciding whether PLTR shares are undervalued or overvalued.
What is the price target for PLTR?
As of the writing of this article, the average price target market analysts set for PLTR stock is US$14.36, with the lowest price target at US$5.00, by Royal Bank of Canada analysts and the highest sitting at US$25.00, by Wedbush analysts. For more analyst ratings and price targets, check out Stake Black.
This does not constitute financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking appropriate financial or taxation advice before investing.
Megan is a markets analyst at Stake, with 7 years of experience in the world of investing and a Master’s degree in Business and Economics from The University of Sydney Business School. Megan has extensive knowledge of the UK markets, working as an analyst at ARCH Emerging Markets - a UK investment advisory platform focused on private equity. Previously she also worked as an analyst at Australian robo advisor Stockspot, where she researched ASX listed equities and helped construct the company's portfolios.
