Palantir and Carahsoft Strike Important Partnership

Palantir (PLTR) has selected Carahsoft as its new channel partner program as it seeks to secure more business from the U.S. government. Carahsoft is a government IT solutions provider working with federal, state, and local public sector agencies. Meanwhile, PLTR is an American software company that specializes in big data analytics.

Palantir has tapped Carahsoft as its U.S. federal distributor. Carahsoft will make Palantir’s software solutions available to the U.S. federal government through its reseller partners. The arrangement is expected to make it easier for government customers to access Palantir’s solutions.

Various government agencies and departments have already used Palantir’s solutions. For example, Palantir’s technology supported the distribution of COVID-19 vaccines and has assisted in intelligence operations. Therefore, Palantir counts on the partnership to bolster its sales organization and broaden its access to U.S. federal government contracts.

Lauren Penneys, Palantir’s Head of Sales, U.S. Government, said, “We are thrilled to partner with Carahsoft, as we invest in growth and establish new routes to market that will increase access to Palantir’s best-in-class software.”

Vice President of Carahsoft, Maryam Emdadi, said, “We look forward to working with Palantir and our resellers to deliver mission critical technology to the government, and help agencies advance their digital modernization strategy.”

Wall Street’s Take

The stock has a Hold consensus rating based on two Buys, four Holds, and three Sells. The average Palantir price target of $13.75 implies 0.58% downside potential from current levels.

News Sentiment

TipRanks data shows that the News Score for Palantir is currently Neutral based on 22 articles published over the past seven days. Notably, 67% of the articles have a Bullish Sentiment compared to a sector average of 65%, while 33% of the articles have a Bearish Sentiment compared to a sector average of 35%.

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