This is a great time to invest in Palantir Technologies (NYSE:PLTR), a widely known provider of security products and services. PLTR stock remains on sale, down 48% year to date, while its multiple collaborations will provide the company with powerful revenue streams.
Who needs Palantir’s help? Evidently, many businesses and some governments do. The proof is in the numbers. Palantir’s overall commercial revenue grew 54% year over year in the first quarter, while U.S. commercial revenue soared 136%. And the company’s government revenue grew 16% during the same time frame.
Yet, investors in PLTR haven’t enjoyed profits reflecting the company’s progress. This divergence could be rectified soon, though, especially since Palantir’s recent deals indicate an outstanding growth trajectory for the company.
| PLTR | Palantir Technologies | $9.46 |
A Slew of Deals Could Boost PLTR Stock
Earlier this month, Palantir announced that the U.S. Space Systems Command Battle Management Command, Control, and Communications increased the size of its contract with Palantir by $53.9 million to a total of $175.4 million. In return, Palantir will deploy its “data and decisions platform to support national security objectives through March 2023.”
Plenty of other exciting revenue opportunities abound.
Palantir and physical commodity trading company Trafigura are developing a “technology services platform for carbon emissions calculation, reporting and collaboration across commodity supply chains.” This could establish Palantir as an innovator in developing tech-enabled solutions for monitoring and reducing commodity-related emissions.
Palantir is also partnering with automaker and mobility provider Stellantis (NYSE:STLA), which will “deploy Palantir’s Foundry operating system across the company’s brands, business functions and plant locations.”
Additionally, Financial Times reported that Palantir is bidding to provide a tech and data upgrade for the U.K.’s National Health Service. Apparently, Palantir is trying to win a 360 million British pound contract “to manage the data of millions of patients across England.”
The Bottom Line on PLTR Stock
Based solely on the price action of PLTR stock, you might assume that the company is in serious trouble. Shares currently sit 68% below their 52-week high of $29.29, made in September. They deserve to be trading in the double digits.
The Space Systems Command deal should provide a tremendous boost to Palantir’s revenue. The other collaborations, if they work out as planned, could also enhance Palantir’s balance sheet.
In light of all these headline-grabbing developments, the bull case for PLTR stock only seems to be getting stronger. Buying shares anywhere below $10 is a steal. But investors should act quickly, before the window of opportunity closes with Palantir.
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.
