We will also use the opportunity to show you some of the best places to buy Palantir stocks. Let’s jump right in, shall we?
Palantir has continued to woo retail investors following its listing on the stock market several years ago. Today, the company’s stock is showing a lot of promise, with many retail investors betting that the stock will perform well in the future. If you have been looking to add Palantir shares to your investment portfolio but don’t know how to go about it, you’re welcome to read today’s guide, as we will be taking you through everything you need to know about buying Palantir stocks.
About Palantir Technologies
Palantir Technologies is a leading American software company that specializes in big data dynamics. The company has its headquarters in Denver, Colorado. The company kicked off operations in 2003 and was founded by John Lonsdale, Nathan Gettings, Stephen Cohen and Alex Warp.
Palantir is famous for three unique projects: Palantir Gotham, Palantir Apollo and Palantir Foundry. Its flagship project, Palantir Gotham, is used by counter-terrorism experts. At some point, Palantir Gotham was used by fraud investigators to track fraudulent activities.
When the company kicked off its operations in 2003, its first clients were federal agencies, but the company has now expanded its operation and now provides its services to state, local governments and private companies operating within the financial and healthcare industries.
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Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
When was Palantir listed on the stock exchange?
Palantir, a leading big data analytics firm, completed its direct listing in September 2020. When the company decided to list on the New York Stock Exchange, it set a reference price of $7.25. Following its listing, the company’s share rallied to $10 per share, putting the company’s market capitalization at 21 billion.
While the company kicked off operations in 2003, the company raised $3.3 billion from venture capital investors like Harbor Pacific, Glynn Capital, Sompo Japan Nipponkoa, Hercules Capital, Morgan Stanley, Troy Capital, In-Q-Tel, Fidelity, and BlackRock in 2006.
As per the information available, Palantir’s last private funding round in 2020 saw the company raise a whopping $500 million.
How has Palantir shares fared?
The company’s shares have been on the back foot for much of this year. While this may be troubling to investors, it’s important to note that most markets, including the stock markets, have suffered from a prolonged downward trend, largely because of rising inflation and fears of recession.
But despite losing a significant chunk of its value, analysts expect Palantir shares to pick up momentum as the company continues to work behind the scenes on its numerous projects.
In its recently released fourth-quarter results, Palantir reported sales of $432.9 million, representing a 34% change year over year. The company saw its net loss grow by over 5%. Even though the company continues to make significant progress in the top line, investors are more worried about the bottom line. Nevertheless, Palantir believes it is working extremely hard to turn the company’s fortunes around.
While a look at the current trend may not be encouraging for retail investors, it’s important we highlight that Plantir’s business is on the right track. For instance, its operating loss of $58 million was way lower than the $156.6 million loss reported in the previous year.
As the company continues to work its way out of a bearish market that has suppressed even some of the biggest stocks, there is light at the end of the tunnel. From a fundamental point of view, Palantir is in good shape to manage adversaries.
Palantir stock last closed at $7.56, a 2.5% drop from the previous day. Overall. Palantir has remained on the back foot for much of this year, losing nearly 61.1% of its value. Though Palantir has underperformed other shares in the Software-Infrastructure industry, the company’s stock is currently +18.94% from its 52-week low, a sign that the bad days might be over.
As of the time of writing this post, there are at least 2.08B Palantir shares outstanding. The current market value of PLTR is $15.93 billion.
Is investing in Palantir stock a good idea?
Despite not having a good year so far, there is a lot of bet by analysts that Palantir stock will pick up in the near future. From a fundamental perspective, Palantir is showing a lot of promise, especially with the company focusing on building products for its target market.
While most of the stock markets continue to suffer significant losses from sustained downward pressure, this is just a phase. With the price of Palantir shares at an all-time low, now is a good time to add the stock to your investment portfolio at a good price.
If you are in for the long time, then investing in Palantir stock isn’t a bad idea at all. We expect the company’s fortunes to turn around when the market picks up.
However, if you’re in for a quick bucks, you may want to wait the bearish market out and look out for a turnaround before you invest some money in Palantir stock.
How to buy Palantir stock online
Now that you know what Palantir stock is, it’s time we take you through how to buy some of the company’s shares. Read the details below.
Step 1: Find a good online
Before you can buy Palantir shares, you’ll first need to find a broker that offers Palantir shares. When shopping for a reliable broker, it is important to consider the broker’s trading fees, supported instruments as well as how easy it is to open an account. Asides from that, you also need to consider the security of the platform. Thankfully, we only recommend brokers that are regulated and have a strong security architecture to guarantee the safety of investors’ funds.
Step 2: Open your brokerage account
After choosing a broker you think is right for you, the next thing you need to do is open an account. The process is seamless and pretty much the same as opening a regular bank account. Opening an account takes only a few minutes with brokers like eToro, Plus500, Fidelity, and Admiral Markets. It’s almost as easy as opening a new Gmail account.
Step 3: Deposit money into your account
With your account now created, you’ll need to fund your trading accounts to be able to buy Palantir stocks. And just like opening an account, funding your trading account is also super easy. Top brokers like Plus500, eToro, Fidelity and more have a straightforward deposit process. These top brokers support multiple payment methods, including bank transfer, wire transfer, credit/debit card and e-wallet payment options like PayPal, Netteller, and Skrill.
Step 4: Buy the Palantir share
With your account now fully funded, you can now proceed to buy Palantir stock. And good enough, this process is super easy. All you need to do is hit the buy button. To get started, log into your brokerage account and search for the Palantir share ticker: PLTR. After that, enter the number of shares you would like to buy and click on the buy button. Your broker should execute your order based on the order type you select.
Here are some things you should know. When placing an order for Palantir stock, you have the option to choose from different order types. If you choose the market order options, your broker will execute the trade at the current market price. On the flip side, if you opt for a limit order, your broker will only activate the trade when the price reaches your preset price.
Step 5: Review your Palantir position regularly
While adding Palantir share to your portfolio is a good move; you aren’t done yet. The next thing you want to do is ensure you monitor your positions every now and then. If you had a long-time view when you bought Palantir shares, then you want to keep up with news and events regarding the company. You can also follow the company’s annual meeting to stay updated on the company’s activities
If you’re in for the short time, you want to keep monitoring your portfolio for any swift market moves. You can also set price targets so that your broker automatically closes your position if the market reaches that zone.
How to buy Palantir stock on eToro
Now that you know how to invest in Palantir stock, we want to use this opportunity to show you how you can buy Palantir shares on an exchange like eToro. And just so you know, the process is pretty straightforward and only takes a couple of minutes. Here, check out how anyone can buy Palantir stock on eToro.
How to buy Palantir stock on eToro
Now that you know how to invest in Palantir stock, we want to use this opportunity to show you how you can buy Palantir shares on an exchange like eToro. And just so you know, the process is pretty straightforward and only takes a couple of minutes. Here, check out how anyone can buy Palantir stock on eToro.
Create an eToro account
If you don’t already have an account with eToro, you’d have to open one to be able to buy Palantir stock. As we reiterated earlier, the process is simple. If you already have an account with eToro, you can simply log in.
During the signup process, you’ll be required to provide basic information like name, email address, and phone number. Nonetheless, to fund your eToro trading account, you’ll need to provide additional info so the broker can verify your identity.
Complete your eToro profile
If you’re opening your account for the first time on eToro, you’d be required to complete your profile. For customers who have an existing account, you can skip this process. Completing your profile only takes a couple of minutes and is a requirement by most brokers as per AML and CTF regulations. With your profile now complete, you can proceed to other aspects.
Fund your trading account
After completing your eToro profile, you’ll need to fund your trading account to be able to buy some Palantir Stocks. We love eToro because they have a low minimum deposit requirement. To start trading on the eToro platform, you’ll need to make a minimum deposit of $200 or it’s equivalent in other currencies.
And just to add, eToro supports up to 8 popular deposit methods, including PayPal, wire transfer, UnionPay, credit or debit cards, Neteller, Skrill, and WebMoney. So, funding your account is super easy.
Tip: If you’re not fully convinced or you don’t feel ready to invest real money, you can test the waters with eToro’s virtual portfolio feature. This option lets you trade your favorite stocks without putting in real money. And as you gain experience and feel more comfortable, you can switch to a real portfolio.
Buy Palantir Stock
With your eToro account now funded, you can proceed to buy Palantirstocks. While eToro lets you buy Palantir shares seamlessly, you can also decide to short it. Keep in mind that the direction you decide to take is based on current market sentiments or direction. Here is how you can buy Palantir stock on eToro.
Navigate to eToro’s unique search bar, which sits at the top of the screen. Enter the ticker name associated with Palantir stocks: PLTR. Hit the trade now button to place your order. A new window should pop up, allowing you to make changes to different parameters. It’s that easy.
