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7 Stocks That Cathie Wood is Buying And You Should Too in 2021 - 1 of 7

#1 - Palantir Technologies (NYSE:PLTR)

Palantir Technologies logo

The first stock on this list is perhaps the most controversial. Palantir Technologies (NYSE:PLTR) is engaged in the big data sector. But many investors have seemed to be reluctant to invest in the company. Since going public, PLTR stock may a nice run to about $30. But on two separate occasions, the stock has tested the $40 level. And each time, the stock has been knocked back.

Wood certainly seems to believe these dips are buying opportunities. She has made Palantir a big buy in her ARK Innovation ETF (NYSEARCA:ARKK). And she also purchased shares of PLTR for the ARK Next-Generation Internet ETF (NYSEARCA:ARKW).

The company’s latest earnings report showed the company continues to burn cash. However, it’s also showing growth in its private sector businesses which was a key factor in the company’s 40% year-over-year revenue growth. With the attention of hedge funds behind it, Palantir appears to be a momentum stock for 2021. And if Wood’s endorsement means anything, PLTR stock may be ready to become considerably more expensive.

About Palantir Technologies
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides Palantir Gotham, a software platform for government operatives in the defense and intelligence sectors, which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. Read More 

Current Price: $18.89
Consensus Rating: Hold
Ratings Breakdown: 2 Buy Ratings, 3 Hold Ratings, 4 Sell Ratings.
Consensus Price Target: $40.13 (112.4% Upside)

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