High-Flier Palantir Could Be In More Upside As Data Analytics Company Lands Another Defense Department Contract
Portfolio Pulse from Shanthi Rexaline
Palantir Technologies, Inc. (NYSE:PLTR) has been selected by the Department of Defense to support coordination between federal and commercial licensees of the 3450-3550 MHz spectrum band. The financial terms of the deal were not disclosed. The government segment is a major revenue earner for Palantir, contributing 55% or $289 million to the total revenue in Q1 2021. Palantir's stock has been on a rise since it was initiated with a bullish recommendation by Wedbush analyst Daniel Ives.
August 01, 2023 | 7:51 am
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POSITIVE IMPACT
Palantir's new contract with the Department of Defense could potentially boost its stock in the short term. The company's strong performance in the government segment, which is a major revenue source, also supports this outlook.
The news of Palantir landing another contract with the Department of Defense is likely to be seen positively by investors, potentially leading to a short-term increase in the company's stock price. Additionally, the government segment is a major revenue source for Palantir, contributing 55% to its total revenue in Q1 2021, which further supports the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100