If You Invested $1,000 In The Palantir IPO, Here's How Much You'd Have Now

Investors who owned stocks in the past seven months generally experienced some big gains. In fact, Since Sept. 30, 2020, the SPDR S&P 500 SPY total return is 25.5%.

On that day, Palantir Technologies Inc PLTR made its public debut, and IPO investors have significantly outperformed the market in the seven-plus months that have followed.

Palantir’s Big Debut: Data analysis software pioneer Palantir was founded in 2003 and made the move to go public 17 years later. It priced its direct listing at $7.25 per share, but the stock opened its first day of trading at $10. While an initial market cap of $16.5 billion was impressive, it was still significantly lower than the $20.4 billion valuation the company had during a 2015 private fundraising round.

On its first day of trading, Palantir shares traded as high as $11.42 before closing the day at $9.50. The stock spent much of its first month under its $10 opening price. In late October, Palantir shares took off like a rocket. Palantir hit $20 in late November and $30 just days later.

Much of the momentum came after Palantir reported impressive 52% revenue growth in its first ever quarterly earnings report as a public company on Nov. 12.

Palantir hit its 2020 high of $33.50 in November before cooling off to close out the year. By the end of December, the stock was back below $25.

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Recent News: The turn of the calendar marked the beginning of a rally to new highs for Palantir. In fact, the stock made is as high as $45 in late January after becoming a darling of Reddit’s WallStreetBets community.

Unfortunately, the company’s fourth-quarter earnings report, which included an 80-cent EPS loss, wasn’t as bullish as its previous report.

The stock dropped back below $30 per share following the earnings report and has continued drifting lower to around $22.50 today.

2021 And Beyond: Still, at the stock’s current level, $1,000 worth of Palantir IPO stock at the $7.25 direct listing price would be worth about $3,108 today.

Looking ahead, analysts see limited additional gains ahead in the next 12 months. The average price target among the seven analysts covering the stock is $23 suggesting 1.8% upside from current levels.

See also: How to Buy Palantir Technologies (PLTR) Stock