Palantir (NYSE:PLTR) announced on Friday that the company has secured a defense contract worth $9.8 million. The data analytics company has been awarded a prototype Other Transaction Authority (OTA) contract by the Defense Information Systems Agency (DISA). As part of this agreement, Palantir will deliver an Electromagnetic Battle Management – Joint Decision Support (EMBM-J DS) prototype.
This prototype is expected to facilitate mission analysis, course of action (COA) development, analysis scoring, and wargaming for the U.S. Defense forces.
Is Palantir a Buy, Hold, or Sell?
Analysts remain sidelined about PLTR stock with a Hold consensus rating based on two Buys, six Holds, and five Sells. Over the past year, PLTR stock has skyrocketed by more than 100%, resulting in analysts’ concerns that the company may be overvalued. This has resulted in analysts downgrading PLTR stock to a Sell.
The average PLTR price target of $19.64 implies a downside potential of 14.6% at current levels.
