"Shares of Palantir Technologies Inc. (NASDAQ:PLTR) gained 2.88% over the past five trading sessions after gaining 1.32% the week prior. The stock's rally so far this year has seen PLTR gain 145.55% YTD. Over the past year, PLTR is up more than 310%, and since going public on Oct. 2, 2020, it has gained an eye-popping 1,906.85%. Earlier in September, the company announced a new defense partnership with the U.K. government valued at £1.5 billion."
"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."
Palantir shares have surged, gaining 2.88% over five trading sessions and rising 145.55% year-to-date, with a one-year increase exceeding 310% and a 1,906.85% gain since its 2020 IPO. The company announced a £1.5 billion U.K. defense partnership and secured a $10 billion software and data contract with the U.S. Army. The company received federal contracts, including one aimed at building a database on U.S. citizens and a $30 million ICE contract for an immigration Lifecycle Operating System. Q2 results beat expectations with EPS of $0.16 and $1 billion revenue, up 48% year-over-year, prompting analyst price-target increases. The Big Data services market is projected to grow from $220.2 billion (2023) to $401.2 billion (2028). Peter Thiel co-founded the company.
Read at 24/7 Wall St.
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