Data analytics titan Palantir (NASDAQ:PLTR) just landed a hefty new contract that may change the National Health Service in the UK as it’s known today. Not everyone is happy about that potential change, though, and that’s weighing a bit on things. However, Palantir stock is up over 4% in Wednesday morning’s trading, so it’s clear that that weight isn’t too much to bear.
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Palantir landed a contract with the National Health, which came in at 480 million pounds sterling, or roughly. The contract has a run of five years, though it can be extended another two years at the end. To land that hefty purse, Palantir will bring in its data analytics systems to help spot patterns, analyze data, and make the entire system—hopefully—work better as a result. Naturally, there are concerns about giving Palantir access to that massive amount of medical data and personally-identifiable information, but assurances have already gone out from the agency.
Meanwhile, Palantir and PwC have stepped up their collaborative efforts, bringing together Palantir’s newest artificial intelligence systems and the industry experience that PwC has developed over decades to produce better ways for clients to analyze data and derive actionable conclusions therein. With both of these factors, according to executive vice president Louis Mosley, the result is an alliance that can “…solve the most complex private and public sector challenges with second to none strategy….”
What is the Target Price for PLTR?
Analysts, however, aren’t quite convinced. With three Buy ratings, six Holds and six Sells, Palantir stock is considered a Hold by consensus reckoning. Further, with an average price target of $13.88 per share, Palantir stock comes with 10.68% downside risk.
