Palantir stock is trading at a lofty valuation "which history suggests is nearly impossible to grow into," Deutsche Bank's Brad Zelnick said.

Palantir Technologies Inc. saw its shares jump as much as 22% in extended trading on Monday after the company reported fourth-quarter earnings and revenue that surpassed analysts’ expectations. Thestrong results,

Palantir Technologies Inc. (NASDAQ: PLTR) stock cracked the $100 mark as it surged over 22% in after-hours trading. The catalyst was an earnings report that can only be classified as a blockbuster. The Palantir retail investing community is loud and active.

The AI-focused Palantir joins a group of less than 50 public American companies worth at least $200 billion, quite the turn of events for the government contractor worth less than $20 billion two years ago.

Palantir Technologies Inc. shares jumped after the company gave a full-year revenue forecast that exceeded analysts’ estimates, thanks to what Chief Executive Officer Alex Karp described as “untamed organic growth” in demand for its artificial intelligence software.

Palantir surged more than 23% in premarket trading after reporting stronger-than-expected fourth-quarter results and guidance driven by AI CEO and co-founder Alex Karp called the momentum within its commercial and government segments "unlike anything that has come before.