13 Best High Volume Stocks to Buy Now

8. Palantir Technologies Inc. (NASDAQ:PLTR)

Average Volume (3-Month): 112.96 million

Number of Hedge Fund Holders: 64

Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community and US commercial customers to help with data analytics. It provides unified access to open-source, self-hosted, and commercial LLMs that can transform structured and unstructured data into LLM-understandable objects.

On May 6, Cantor Fitzgerald raised its price target for Palantir from $98 to $110 with a Neutral rating. This adjustment came after the company’s Q1 2025 earnings, which outperformed the overall results in the US commercial sector, where revenue surpassed projections by 10%, and overall government revenue, which surpassed projections by 5%. The company’s US revenue particularly grew by 55% year-over-year and made up 71% of the company’s total business.

This segment achieved a $1 billion annual revenue run rate in Q1 due to the demand for AIP. US commercial Total Contract Value booked reached $810 million, which was a 239% increase on a dollar-weighted duration basis, with twice as many deals of $1 million or more closed year-over-year. Palantir Technologies Inc. (NASDAQ:PLTR) has also raised its full-year 2025 US commercial revenue guidance to over $1.178 billion, which projects a growth rate of at least 68%.

Alger Mid Cap Focus Fund stated the following regarding Palantir Technologies Inc. (NASDAQ:PLTR) in its Q4 2024 investor letter:

“Palantir Technologies Inc. (NASDAQ:PLTR) builds advanced platforms for data integration, management, and security, enabling interactive, AI-assisted analysis for its users. Its core offerings include Palantir Gotham, designed for government clients, and Palantir Foundry, tailored for commercial customers. Originally focused on U.S. intelligence agencies, Palantir has expanded into defense contracts with western governments and entered the commercial market in 2016. During the quarter, shares contributed to performance after the company reported better-than-expected fiscal third quarter operating results, along with management raising its full year 2024 revenue guidance. Management noted that the recent launch of its AI platform (AIP), which leverages generative AI to optimize business operations, has driven significant growth and investor interest. Additionally, we believe Palantir could be a key partner for the U.S. government’s new Department of Government Efficiency (DOGE), as its AI-driven platforms are ideally suited to help identify inefficiencies, allocate resources effectively, and achieve cost reductions.”