The hottest stock on Wall Street is a cryptic company you’ve never heard of

New York —

After a blowout quarterly earnings report this week, Palantir has become one of the buzziest (and most expensive) stocks on Wall Street.

Shares of Palantir — which we’ll shorthand as a “data analytics firm,” even though that’s not even the half of it — have been on a tear. This week, the company reported its first $1 billion in quarterly revenue, beating expectations. That came just a few days after news broke that Palantir had secured a $10 billion contract from the US Army over the next decade.

The stock, which several analysts say is wildly overvalued (with a market cap valuing it at around 100 times its annual revenue), has shot up nearly 600% from a year ago. With a $420 billion market valuation, Palantir is now worth more than The Walt Disney Co. and American Express