Why Palantir Technologies Shares Jumped Higher in January

January was another strong month for Palantir Technologies (NYSE: PLTR), with the stock climbing 49.4%, according to data provided by S&P Global Market Intelligence. The shares are now up more than 250% since the company's late-September public debut.

Palantir has been a red-hot stock since its debut, with investors excited about the company's well-regarded data analytics technology and high-profile backers including executive chairman Peter Thiel. Palantir works with a number of government and commercial customers, but is best known for its work with known for its work with government spy agencies and its reported role in the capture of Osama bin Laden.