Palantir (PLTR.US) stock price hits a new all-time high, with market value skyrocketing to the top twenty in US stocks.

Palantir, the American data analysis company, has reached another significant milestone as its stock price continues to surge, officially entering the top 20 companies in terms of market value in the United States. As of Friday, the company's stock price rose by over 2%, hitting a new all-time high and pushing its market value to $375 billion, surpassing traditional giants like Home Depot, Inc., Procter & Gamble Company, Bank of America Corp, and Coca-Cola Company. Founded in 2003 by Silicon Valley renowned investors Peter Thiel and current CEO Alex Karp, Palantir has seen its stock price double since the beginning of the year, becoming one of the hot AI concept stocks favored by investors as the wave of artificial intelligence sweeps across the globe and the company's relationship with the U.S. government intensifies. In the latest financial report, the company's revenue from U.S. government business increased by 45% year-over-year, reaching $373 million, driving overall revenue growth by 39% to $8.84 billion. Palantir is set to announce its next quarter financial report on August 4, and market anticipation is rising. Earlier this year, Palantir's market value surpassed Salesforce, Inc., IBM, and Costco, entering the top ten U.S. tech stock market values. Now, its market value has also brought it into the top twenty companies in America, showing Wall Street's strong confidence in its growth prospects. However, behind the high valuation, Palantir's current price-to-earnings ratio is also worth noting. According to FactSet data, the company currently trades at 273 times future expected earnings, making it the only company among the top 20 with a P/E ratio of over three digits, besides Tesla, Inc., with an expected P/E ratio of 175. Although Palantir's market value has significantly increased, its revenue scale is still far below that of comparable companies. In the past year, the company's total revenue was $31 billion, only a small fraction of Mastercard, the smallest revenue company in the top 20 companies, with nearly $29 billion in total revenue over the past four quarters and a market value of $518 billion.