5 Best Prison and Law Enforcement Stocks To Buy Now

4. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 26

Palantir Technologies Inc. (NYSE:PLTR) is a Colorado-based provider of big data analytics solutions. Palantir Gotham is a leading decision operating system used by law enforcement agencies. It is adopted and employed by police authorities in the US, Canada, Germany, and many other countries.

In March 2022, Germany’s Bavarian Criminal Affairs Bureau signed a five-year agreement worth $26.2 million that will provide all German law enforcement agencies access to two leading tools of Palantir Technologies Inc. (NYSE:PLTR). Governments across Europe have increased their defense expenditure since the start of the conflict between Russia and Ukraine in late February 2022. In the US, the Los Angeles Police Department (LAPD) uses Palantir Gotham to merge data from various sources.

According to consensus projections, Palantir Technologies Inc.’s (NYSE:PLTR) revenues should increase to about $2.4 billion in 2023 and about $3 billion in 2024. Palantir has a fairly lengthy growth runway and can expand its revenue by 25–30% YoY through 2030. The stock is trading at less than five times its 2024 revenue expectations, which is very inexpensive for a hyper-growth firm. These fundamentals make Palantir Technologies Inc. (NYSE:PLTR) one of the best prison stocks in the market.