#6 - Palantir Technologies (NYSE: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 builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.
Read More - Current Price
- $64.33
- Consensus Rating
- Reduce
- Ratings Breakdown
- 2 Buy Ratings, 8 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $31.71 (50.7% Downside)
