Revenue growth can be exciting, but what's much more important in the long run is the bottom line. If a company can grow its earnings at a high rate, that can improve its price-to-earnings (P/E) multiple and make the stock a better value buy for investors. This can be particularly key for Palantir, whose P/E ratio is now at around 300.

Palantir Technologies Inc.'s stock is now the second-best performer in the S&P 500 for 2024, with its fervent recent rally carrying above Nvidia Corp.'s stock. Shares of Palantir, which joined the S&P 500 in September,