Stocks To Buy Right Now: Three Stocks That Are Better Buys Than Palantir's PLTR Stock!

Here is a list of three stocks that analysts believe are a better buying opportunity than Palantir Technologies PLTR stock.

However, I personally think that Palantir is better than these other companies, but you should always conduct your own research before buying into any investment.

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The share price of Palantir, which is an enterprise software company, has shown impressive growth this year.

Fueled by its artificial intelligence ambitions, strong earnings, and recent contract wins, Palantir's stock price has surged by 175% year-to-date.

Furthermore, Palantir has been given an overall "Hold" rating from analysts and an average target price of $13.81 which suggests an expected downside potential of over 21% from current levels.

With Palantir potentially overpriced at its current valuation, we will now explore three alternative stocks in the software industry that analysts favor. These stocks are all rated as a "Buy" rating, with at least 17% upside potential from current levels.

The first pick among analysts is named Confluent which was founded in 2014 and is headquartered in Mountain View, California.

Confluent offers a unified platform for building and running real-time applications, and they serve prominent clients such as Netflix, Airbnb, and Uber.

Its platform is utilized for various applications, including fraud detection, customer recommendation systems, and data processing.

With a market capitalization of 9.18 billion dollars, Confluent's share price has already grown by 37.7% year-to-date.

The company's recent earnings results have been robust, with quarterly revenues reaching 189.3 million dollars which equates to a 36% increase from the previous year.

Moreover, adjusted earnings have improved, moving from a loss of 16 cents per share in the previous year to break-even on a per-share basis. Confluent has consistently exceeded earnings expectations for the past five quarters.

Key metrics, such as remaining performance obligations are up 78% year over year and customers with ARR greater than $100,000 is up more than 30% year over year which is great news.

To capture a larger share of its 60 billion dollar addressable market, Confluent is constructing a comprehensive Data Streaming Platform, which integrates five key processes such as; streaming, connecting, governing, processing, and sharing.

The company has already begun monetizing these components through a freemium licensing and subscription-based model to boost engagement and revenue.

Analysts have bestowed a "Moderate Buy" rating on Confluent stock, with an average price target of $37.68, implying nearly a 23% upside potential from current levels.

Out of 25 analysts covering the stock, 14 analysts rate it as a "Strong Buy," 1 as a "Moderate Buy," and 10 analysts say to "Hold."

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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.

SOURCES: https://www.nasdaq.com/articles/3-software-stocks-analysts-like-better-than-palantir