Data analytics company Palantir Technologies (NYSE: PLTR) gained in trading on Tuesday after it announced a contract worth $250 million with the U.S. Army. The new contract will run through 2026 and will provide additional “capabilities in support of the Combatant Commands (COCOMs), Armed Services, Intelligence Community, and Special Forces” regarding artificial intelligence (AI) and machine learning (ML).
Akash Jain, President of Palantir USG, commented that the company is honored to expand its partnership with the army as it continues to deliver innovative technologies and advanced data applications.
Is Palantir a Buy, Sell, or Hold?
Analysts remain sidelined about PLTR stock with a Hold consensus rating based on three Buys, six Holds, and six Sells.
