Palantir Stock Spikes 6% on U.S. Army TITAN Contract 
The share price of Palantir Technologies Inc. (NYSE: PLTR) was sharply higher in pre-market trading on March 6, 2024. The company announced it has been awarded a two-year $178 million contract from the U.S. Army for its Tactical Intelligence Targeting Access Node (TITAN) program. These are mobile ground stations that are powered by artificial intelligence (AI) and machine learning (ML) technology. The TITAN system's mission is to provide real-time actionable intelligence using AI and ML modeling that can be implemented at the tactical edge. Palantir's AIP platform will provide a best-in-class solution that will lay the foundation for a scalable, adaptable solution designed for a rapidly evolving threat environment. Why Did the Army Choose Palantir? According to Akash Jain, president, Palantir USG, "This award demonstrates the Army's leadership in acquiring and fielding the emerging technologies needed to bolster U.S. defense in this era of software-defined warfare... Soldiers deserve best-in-class technology that gives them the tactical advantage on the battlefield, allowing for real-time decisions at critical speeds. Palantir is honored to support this program, to continue its partnership with the Army, and to lead a team of innovative partners to build the next generation of capabilities." Putting the Deal in Perspective In 2023, Palantir generated just over $2.25 billion in revenue. When fully paid out, this contract represents about 14% of that total. It's a nice start to the year, considering that the company reported 18% sales growth for all of last year. The contract is also a key next step in Palantir's objective to be a dominant military contractor. However, it's important to note that even with the $89 million from this contract, Palantir's projected full-year 2024 revenue of between $2.65 billion and $2.67 billion would still be short of analysts' projections of $2.8 billion. That will give the naysayers (of which there are many) something to argue against. One criticism of Palantir from its origins has been that it is overvalued among defense stocks and will need growth from the commercial side of its business to justify its current premium. However, Palantir doesn't fit neatly into the category of defense stocks or artificial intelligence stocks. It's not one of many; it's the only company that does precisely what it does. To illustrate that, you should consider that the TITAN contract wasn't the only piece of news Palantir recently reported. The earlier you enter a trend, the bigger your profit potential is.
Artificial Intelligence is definitely a hot trend in 2023 and it's just getting started.
This report contains news about A.I. that most people still don't know about. Here Are 7 A.I. Stocks That You Could Own and Profit From Palantir Plans to Demonstrate Why Seeing is Believing On Thursday, March 7, Palantir will host AIPCon, where more than 60 customers will showcase the work they've been able to accomplish with Palantir's Artificial Intelligence Platform (AIP). At the event, which will also be live-streamed on YouTube, Palantir plans to announce over 20 new customers and partners that cut across many different sectors. Palantir Remains a Stock That Requires Conviction All of this news takes place two months before Palantir reports earnings in May. That will give analysts ample time to consider their outlook for PLTR stock. As Thomas Hughes recently wrote for MarketBeat, analysts' ratings must be taken with a grain of salt as they raise their price targets while maintaining an overall "Reduce" rating on the stock. Plus, institutional investors continue to buy the stock. Written by Chris Markoch, Earnings360 Read this article online › Featured Articles: | 
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