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7 Defense Stocks That Don’t Need the Election to Move Higher - 6 of 7

 
 

#6 - Palantir Technologies (NASDAQ:PLTR)

Palantir Technologies Inc. (NYSE: PLTR) isn’t a pure-play defense stock. However, the company’s data analysis and software platforms operate at a key intersection between the public and private sectors. For the better part of 10 years, the defense sector has said that software, including the application of artificial intelligence (AI), will determine the outcome of future wars.  

Approximately 53% of Palantir’s revenue comes from U.S. government contracts, a substantial portion of which are related to the military and defense. The company’s Gotham software platform is being used by U.S. government agencies to help with pattern identification in highly complex datasets. It also facilitates collaboration between analysts and operators.  

PLTR stock is up 67% in the 12 months ending June 27, 2024. And it’s up approximately 42% through the first half of 2024. With that said, there’s significant concern over the stock’s current valuation. However, for investors with a long-term outlook, Palantir is worth a hard look.  

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies. Read More 
Current Price
$80.55
Consensus Rating
Reduce
Ratings Breakdown
2 Buy Ratings, 11 Hold Ratings, 6 Sell Ratings.
Consensus Price Target
$41.00 (49.1% Downside)

 

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