Is Palantir Technologies Stock Set to Soar Higher After Securing a Huge Government Contract?
Palantir Technologies (NYSE: PLTR) has been a popular stock with growth investors in the past year. The data analytics company helps both government and commercial customers make better decisions through the use of its platform. And last year, the company launched an artificial intelligence (AI) platform, which can improve and expedite the decision-making process for its customers even further.
Already a trusted partner with many government organizations, the company recently landed another deal that will help boost its top line. Does this deal make Palantir a no-brainer buy, even despite its already strong 43% gains this year?
On March 6, Palantir announced it had won a contract with the Army. The deal is worth $178.4 million and involves the development of the Army's Tactical Intelligence Targeting Access Node (Titan), which utilizes AI and machine learning. Titan's goal is, "to provide actionable targeting information for enhanced mission command and long range precision fires."
Source Fool.com
