"Earlier in September, the company announced a new defense partnership with the U.K. government valued at £1.5 billion. In late July, it was announced that Palantir secured a $10 billion software and data contract with the U.S. Army. In May, the Trump administration rewarded a federal contract worth hundreds of millions to Palantir with the objective of creating a database on every U.S. citizen."
"When the company reported Q2 earnings on Aug. 4, it announced better-than-expected results. Palantir beat on earnings and revenue, with EPS of 16 cents versus 14 cents expected, and revenue of $1 billion versus $940 expected. Revenue rose 48% YoY and crossed the $1 billion mark for the first time. As a result, Bank of America raised its price target to $180 from $150, and Deutsche Bank upgraded the stock to "Hold" from "Sell" with a price target of $160, up from $80."
"Big Data is expected to be big business in the years ahead. According to platform provider Edge Delta, the market for data services is projected to grow from $220.2 billion in 2023 to $401.2 billion by 2028 - an increase of 82.2%. Palantir is a major player in the space. The company was co-founded by entrepreneur and venture capitalist Peter Thiel, who was also the co-founder of PayPal Holdings (NASDAQ:PYPL) and the first outside investor in Facebook."
Shares of Palantir Technologies (NASDAQ:PLTR) lost 3.22% over five trading sessions after gaining 0.39% the prior week. PLTR has gained 132.13% year-to-date in 2025, 302.17% over the past year, and 1,797.18% since its October 2020 public debut. Major government deals include a £1.5 billion U.K. defense partnership, a $10 billion U.S. Army software and data contract, a federal contract worth hundreds of millions to build a database on every U.S. citizen, and a $30 million ICE immigration Lifecycle Operating System contract. Q2 revenue rose 48% year-over-year to $1 billion, beating expectations and prompting analyst upgrades. The data services market is projected to grow from $220.2 billion in 2023 to $401.2 billion by 2028.
Read at 24/7 Wall St.
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