Palantir's business has been booming as artificial intelligence (AI) elevated the company's offerings, leading to a surge in demand, and multiple quarters of impressive results. But is this tech stock still a no-brainer buy heading into 2025?

Palantir stock has been on a roll but it's a bad idea to chase the software behemoth's shares now, a Baird analyst said.

Investor enthusiasm about Palantir Technologies has driven the stock to sky-high valuation metrics. At Tuesday’s close, Palantir was trading at 67 times its sales over the last 12 months. The S&P 500 index trades at 3.