Palantir Technologies Inc. (PLTR) has entered into a partnership with Satellogic Inc. to strengthen its capabilities to serve clients. Shares of the company rose 3.6% on Tuesday and a further 2% at the time of writing.
With this deal, Satellogic seeks to leverage Palantir’s Foundry platform, accelerating business processes, rapid image product delivery, AI model training, and enterprise-wide data integration.
Moreover, Palantir’s customers will be able to use Satellogic’s Aleph platform APIs to power their use of Palantir’s MetaConstellation and Edge AI capabilities.
The deal extends the companies existing collaboration. Last year, both Satellogic and Palantir had come together to deploy and test Palantir’s Edge AI platform on Satellogic’s NewSat satellites.
The President of Satellogic North America, Matthew Tirman, said, “As a vertically integrated company, we already have a significant competitive advantage when it comes to supply-chain resilience. Further, as part of this agreement, Satellogic will provide Palantir’s US government customers with ready access to Satellogic’s high-resolution satellite imagery to drive analytical insights across a range of mission-oriented use cases.”
“Our partnership with Satellogic underscores our joint commitment to empowering outcomes to the edge. Combining the forces of Palantir’s Edge AI technology with Satellogic’s frequent high-resolution imagery will give users actionable insight faster than ever, accelerating their operations from space to mud,” said, Shyam Sankar, the COO of Palantir.
The company’s EPS for Q4 2021 is estimated to be $0.04. PLTR stock earnings beat estimates in the past five quarters. Thus, given the impressive earnings history, Palantir will likely beat estimates again in Q4.
Overall, the consensus among analysts is a Moderate Sell based on 1 Buy, 3 Holds and 4 Sells.
Hedge Fund Trading Activity
TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Palantir is currently Very Positive, as the cumulative change in holdings across all 6 hedge funds that were active in the last quarter was an increase of 6.6 million shares.
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