Palantir Technologies Inc. (PLTR) has expanded its partnership with the U.S. Centers for Disease Control and Prevention (CDC) via the outbreak response and disease surveillance solution. The solution is for Data Collation and Integration for Public Health Event Response (DCIPHER) Program.
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Palantir and the CDC have been in partnership for more than a decade, and have so far worked on managing foodborne outbreaks, countering Ebola, managing anthrax, and special bacterial pathogens.
Management Weighs In
Dr. William Kassler, Chief Medical Officer for USG at Palantir, commented, “We are honored to continue and expand our long-standing partnership with CDC in support of public health surveillance and outbreak response. Beyond COVID, by incorporating innovative genomic workflows into traditional public health surveillance, CDC is building upon its foundational investments in a modernized technology infrastructure.”
Palantir’s Foundry platform integrates data from siloed data sources and enables granular access, which in turn helps in data-driven decision making. The platform is also used by the National Institutes of Health, the Department of Health and Human Services, the Food and Drug Administration, and different military branches.
Analyst Take
Monness analyst Brian White has initiated coverage on the stock with a Buy rating and a price target of $20.
Overall, the Street has a Hold consensus rating on the stock based on three Buys, four Holds, and two Sells. The average Palantir price target of $14.44 implies a potential upside of 16.26%. That’s after a 33% slide in share prices so far this year.
Closing Note
Palantir derived 55% of its fourth-quarter revenues from government customers. The company sees the government sector as a $63 billion opportunity. The expanded CDC partnership further helps Palantir grab a higher share of this pie.
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