Aventura, Florida-based Palantir Technologies Inc. (PLTR) is a software company with a market cap of $342.2 billion. It builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations.
This tech company has lagged the broader market over the past 52 weeks. Shares of PLTR have gained 23.2% over this time frame, while the broader S&P 500 Index ($SPX) has surged 29.8%. Moreover, on a YTD basis, the stock is down 20.5%, compared to SPX’s 4.8% rise.
Zooming in further, PLTR has outpaced the SPDR S&P Software & Services ETF’s (XSW) 7.3% loss over the past 52 weeks. However, it has slightly trailed XSW’s 19.2% YTD drop.
On Apr. 22, shares of PLTR surged 4.6% after the company announced a $300 million purchase agreement with the United States Department of Agriculture (USDA). The multi-year deal is designed to modernize the agency’s services for American farmers by consolidating decades-old, fragmented databases into a unified software platform.
Palantir stated that its technology would enhance supply chain visibility, curb fraud in agricultural programs, and accelerate payments such as disaster relief. The contract marks a notable expansion beyond Palantir’s core defense and intelligence operations, signaling deeper penetration into the civilian government space and strengthening its role in federal data modernization initiatives.
For the current fiscal year, ending in December, analysts expect PLTR’s EPS to grow 66.7% year over year to $1.05. The company’s earnings surprise history is mixed. It exceeded the consensus estimates in three of the last four quarters, while missing on another occasion.
Among the 27 analysts covering the stock, the consensus rating is a “Moderate Buy,” which is based on 16 “Strong Buy,” nine “Hold,” one "Moderate Sell,” and one “Strong Sell” rating.
The configuration is slightly more bullish than a month ago, with 15 analysts suggesting a "Strong Buy” rating.
On Apr. 28, Citigroup Inc. (C) maintained a “Buy” rating on PLTR but lowered its price target to $210, indicating a 48.6% potential upside from the current levels.
The mean price target of $196.92 indicates a 39.4% potential upside from the current levels, while its Street-high price target of $260 suggests an 84% potential upside from the current levels.
On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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