Unstoppable. That's the word that comes to mind in describing how Palantir Technologies ( PLTR -2.26%) stock performed in recent years. Since 2023, the stock has generated incredible returns of more than 2,100%. During that time frame, a $5,000 investment into the data analytics company would have grown to more than $110,000.

Palantir Technologies stock just hit another record, but the lofty valuation of the defense focused artificial-intelligence software company has analysts questioning whether it can go much higher. Palantir stock was up 0.