Palantir's frothy valuation isn't for everyone.

Palantir Technologies has been one of the most dynamic -- and controversial -- stocks in the market for the last couple of years. Palantir's extraordinary run includes a 2,130% gain over the last three years. Had you invested $10,000 into Palantir stock then, you'd be sitting on a nest egg of $223,000 (at the time of this writing).

While the data mining company's growth is impressive and it has its bulls -- including me -- the stock's valuation is admittedly out of hand. Palantir stock has a trailing price-to-earnings (P/E) ratio of an eyewatering 623, and a forward P/E of 217. The price-to-sales (P/S) ratio is hard to stomach as well, coming in at 137.

I'm a believer in the Palantir growth story, and I've long said that the market

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