Palantir has 'no ceiling' right now or 'anytime soon'

Palantir (PLTR) reported strong third quarter results on Monday.

DA Davidson head of technology research, Gil Luria, joins Market Catalysts host Julie Hyman to discuss Palantir's earnings print and the company's road ahead.

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Video Transcript

00:00 Speaker A

What is the total addressable market for a company like Palantir? And is there anyone really competing with them directly in what they do?

00:06 Speaker B

So, there is no ceiling for Pateer anytime soon. Just to give you proportion, again, they're they're more than 4 billion run rate. uh, Adobe's 20 billion run rate, uh, Salesforce 40 billion, Oracle 50 billion. Uh, there there's nothing limiting Pateer's growth. That's part of the excitement, that's part of how investors are justifying this very high multiple. And then in terms of competition,

00:30 Speaker B

everybody's trying to do what Pateer's doing, which is help companies get to their AI goals and nobody is succeeding as well. and it's not an accident. Pateer is an overnight success story 20 years in the making. They do some things extraordinarily well. They help companies and government agencies collect disparate data sources, combine them so you can use AI without compromising the the privacy and confidentiality of those data sources.

01:03 Speaker B

They give companies the the soup to nuts um, service in terms of all the software components, all the services components, instead of those companies having to cobble that together from different software companies and third-party consulting and internal IT. Those are two very unique capabilities that really nobody else is doing and are actually kind of hard to replicate. That's why Pateer's doing so much better than anybody else.

01:31 Speaker B

And again, the sky's the limit because at their size, they can continue to grow at these rates for many years.

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