All articles tagged with #us army contract
Palantir's stock has surged 340% in 2024, driven by a major U.S. Army contract worth up to $10 billion and strong AI demand. The company is set to report second-quarter earnings on August 4, with analysts optimistic about its growth prospects despite high valuation multiples. A recent deal with the Army and positive analyst ratings suggest continued bullish sentiment.
Palantir's stock surged after winning a $178 million contract with the US Army to build AI-enabled ground stations, but RBC Capital Markets Analyst Rishi Jaluria remains skeptical, stating that the company is not a cutting-edge generative AI innovator and is overvalued compared to its fundamentals. He believes that the gap between the company's messaging and reality will eventually lead to a stock correction, despite the current hype.