Palantir Technologies (NASDAQ:PLTR) creates big data analytics software platforms that assist governments and companies in making difficult decisions. Its products are, Palantir Gotham and Foundry, allow for the connecting and analyzing of sensitive information for security agencies and commercial clients in sectors like finance and pharmaceuticals.

The reality is that 100 times sales is an unrealistic expectation for any stock. Although it may take some time before we see a correction, it's coming for Palantir. It simply doesn't have the growth rate to justify a valuation of 100 times sales or greater, and it's currently trading on hype.

Palantir Technologies (NASDAQ: PLTR) is an excellent example of how this can work. Let's dig deeper to see if the data analytics and artificial intelligence (AI) leader is still capable of multibagger long-term returns.