10 Best Multibagger Stocks to Buy According to Billionaires

2. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 63

Number of Billionaire Holders: 12

1-Year Gain as of April 22: 333.00%

Palantir Technologies Inc. (NASDAQ:PLTR) is a software infrastructure company that builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. Its stock has surged by about 333% over the past year and by 1,214% since 2003, emerging as one of the best multibagger stocks to buy, according to billionaires.

The significant gain comes from Palantir Technologies Inc. (NASDAQ:PLTR) emerging as one of the biggest winners of the artificial intelligence boom. Its artificial intelligence platform is increasingly helping governments and companies integrate AI into their operations to support better decision-making. The company has already secured a $480 billion deal to help build the US Army’s MAVEN System, which Alphabet’s Google abandoned. It has also signed agreements with the Ukrainian and Israeli governments for various projects.

Palantir Technologies Inc.’s (NASDAQ:PLTR) AI-fueled momentum received a boost after NATO announced it would start using its battlefield software. NATO adopting the AI-driven military system is a huge validator as Europe’s defence demand and spending rise. The deal comes on Palantir projecting a sale of $3.76 billion for 2025, beating consensus estimates by $240 million. The growing business prospects and sales growth are why Morgan Stanley maintains an equal weight on the stock. However, the firm cut its price target to $95, wary of the long-term tariff risks.