Latest news with #MavenSmartSystem
Yahoo
2 days ago
- Business
- Yahoo
Palantir's Pipeline Surges with Federal Deals
Palantir (NASDAQ:PLTR) jumps 4% noon trading on Friday as a wave of new government contracts and surging commercial growth underpin bullish sentiment. Last week, the company secured a $795 million U.S. Army modification for its Maven Smart System software licenses and is in contention for President Trump's proposed $175 billion Golden Dome missile-defense program. The New York Times also reports Palantir may win the federal data-merger mandate under Trump's executive order, while talks continue with the Social Security Administration, IRS and Elon Musk's Department of Government Efficiency. On the commercial front, Q1 results showed 70% year-over-year growth in commercial revenue and a 40% overall revenue jump. Palantir also inked strategic partnerships with the Joint Commission to modernize healthcare accreditation data and with Fannie Mae to bolster AI-driven fraud detection. Investors should care because this blend of high-value public-sector deals and robust enterprise momentum de-risks Palantir's growth profile and positions it for continued upside. It's important to note that the stock is up a superb 70% YTD. This article first appeared on GuruFocus. Sign in to access your portfolio
Time of India
4 days ago
- Business
- Time of India
Why Palantir Technologies is the Pentagon's favorite tech company — top facts revealed
Palantir Technologies , once best known for data analytics, has now become a leader in the software and artificial intelligence (AI) sectors, most notably in defence technology, which has benefitted the company in the past two quarters, as per a report. Defense Contracts Are Propelling Palantir's Growth Palantir's expansion has been spurred by government contracts worth millions of dollars, including a $30 million software agreement with Immigration and Customs Enforcement (ICE), according to The Street. While, the firm also received good news from the Pentagon recently, as it revealed that it will substantially boost its funding for Palantir's Maven Smart System , as per the report. The Pentagon raised the project's funding to $1.3 billion over the four years, an increase of approximately $795 million, reported The Street. What Is Project Maven? Project Maven, started in 2017 by the US Department of Defence, applies AI and machine learning to analyse huge amounts of data, images from drones, satellites, and sensors, which will be used to track and detect potential threats, according to The Street report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ingin Tahu Tentang Diagnosis Limfoma? Dapatkan Info Selengkapnya Limfoma Baca Undo Demand for Palantir's AI Software Is Growing Demand for Palantir's MSS has risen and an official from the department recently issued a statement, saying, 'Combatant commands, in particular, have increased their use of MSS to command and control dynamic operations and activities in their theaters. In response to this growing demand, the [Chief Digital and AI Office] and Army increased capacity to support emerging combatant command operations and other DOD component needs,' quoted The Street. Already Embedded Across US Military Branches According to The Street report, the additional funding will be used for US combatant commands that oversee military operations. Live Events While, Palantir Technologies already has contracts with the US Army, Air Force, Space Force, and Navy for its MSS software licences, reported The Street. FAQs Why is the Pentagon working so closely with Palantir? Because Palantir's AI tools, like the Maven Smart System, help analyze data from drones and satellites to detect threats. What does Palantir actually do now? Palantir started in data analytics but now focuses heavily on AI-powered defence and military software.
Yahoo
5 days ago
- Business
- Yahoo
Palantir Wins Big with $795M Army Deal, Wedbush Upgrades to 'Outperform'
May 27 - Palantir (NASDAQ:PLTR) won a $795 million contract modification from the U.S. Army for its Maven Smart System, boosting the total award to about $1.3 billion. The deal will run through May 2029, with funding and work sites set by individual orders. Wedbush analyst Daniel Ives sees the contract as a fresh catalyst for the big-data firm, moving his rating to Outperform with a $140 price target, about 13% above current levels. Ives noted that federal AI spending may accelerate under new defence priorities, positioning Palantir to benefit from a wave of government contracts. Ives also pointed to prospective work on the Golden Dome air and missile defence project, a Trump-era initiative budgeted at $175 billion over three years, with $25 billion proposed for 2026. He suggested that Palantir could play a key role if it secures part of that funding. As Palantir gears up for more government AI ventures, investors will be watching whether this latest Army award can translate into sustained revenue growth. Based on the one year price targets offered by 20 analysts, the average target price for Palantir Technologies Inc is $99.81 with a high estimate of $150.00 and a low estimate of $40.00. The average target implies a downside of -19.06% from the current price of $123.31. This article first appeared on GuruFocus.
Yahoo
5 days ago
- Business
- Yahoo
Palantir (PLTR) Climbs on $795M Army Contract Boost
Palantir (PLTR, Financials) is getting a boost after the U.S. Army extended its Maven Smart System contract by $795 million, pushing the total value to $1.3 billionits first billion-dollar deal. In the first quarter, Palantir brought in $373 million from U.S. government contracts, up 45% year over year. The company also raised its full-year revenue outlook to $3.895 billion, signaling 36% annual growth. A senior analyst reiterated an Outperform rating and a $140 price target, pointing to the deal as a catalyst for broader portfolio gains. That implies roughly 14% upside from current levels. Still, Wall Street isn't in full agreement. The average rating on PLTR remains Hold, with a consensus target near $94. The stock rose 0.83% to $123.31 after the news. Investors will be tracking Palantir's government momentum and whether it can deliver on the new guidance. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Palantir (PLTR) Climbs on $795M Army Contract Boost
Palantir (PLTR, Financials) is getting a boost after the U.S. Army extended its Maven Smart System contract by $795 million, pushing the total value to $1.3 billionits first billion-dollar deal. In the first quarter, Palantir brought in $373 million from U.S. government contracts, up 45% year over year. The company also raised its full-year revenue outlook to $3.895 billion, signaling 36% annual growth. A senior analyst reiterated an Outperform rating and a $140 price target, pointing to the deal as a catalyst for broader portfolio gains. That implies roughly 14% upside from current levels. Still, Wall Street isn't in full agreement. The average rating on PLTR remains Hold, with a consensus target near $94. The stock rose 0.83% to $123.31 after the news. Investors will be tracking Palantir's government momentum and whether it can deliver on the new guidance. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
