Palantir Technologies (NYSE:PLTR) is widely hailed as a premier provider of security products and services. Yet, the company is also making inroads into autonomous software management solutions. That’s bullish news for PLTR stock.
Surprisingly, the Palantir Technologies share price has tested its 52-week lows several times this year. Lately, it has been a struggle just to keep the stock above $10. However, a recent event could spark a turnaround for the company and its investors. According to a fresh press release, Palantir revealed a new suite of products available within Palantir Apollo.
The company describes Apollo as an operating system for autonomous software deployment across environments. Greg DeArment, chief architect and head of Apollo Platform, explains that Apollo “enables software engineering teams to encode the preconditions and the expectations of their software next to the code itself, and enables non-linear rollout processes across complex deployment targets.”
There’s a lot of technical lingo in there, but basically, Apollo allows software developers to focus on new feature development, rather than get bogged down in the legwork of deployment. With this solution, software deployment can take place virtually anywhere, including in the cloud.
Plus, all of the essential participants (engineering, operations and security teams) can collaborate within Apollo’s Control Center. There, they can monitor software deployment, specifying environment constraints, remediate issues and more.
Not long ago, the suite of products and services available within Palantir Apollo were to be unveiled at an event called Apollo Demo Day. This might seem like an arcane, geeks-only type of event, but it’s potentially game-changing for Palantir’s stakeholders.
Importantly, this represents a ambitious broadening of Palantir Technologies’ business model. The company might have a reputation for making semi-secret computer-security deals with government agencies, but there’s more to the company than that.
Hopefully, the aggressive foray into autonomous software management solutions will prove to be lucrative for Palantir Technologies. Indeed, Apollo Demo Day might be considered a signal event in Palantir’s evolution as a business. Therefore, investors should prepare for a potential, imminent turnaround in PLTR stock.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
