Palantir Stock Pops on Major Military Contract

A shift in sentiment is sure to boost the shares

Deputy Editor
Mar 6, 2024 at 9:25 AM
facebook X logo linkedin


Shares of Palantir Technologies Inc (NYSE:PLTR) are 9.4% higher before the bell following a multi-million dollar contract. Specifically, Palantir inked a $178.4 million deal with the U.S. Army to develop 10 artificial intelligence (AI)-powered ground stations for the Tactical Intelligence Targeting Access Node, or TITAN, project.

With all the hype surrounded artificial intelligence (AI) developments, PLTR has soared up the charts and is today looking to open at its highest level since November 2021. Coming into today, the shares were already 38.7% higher for 2024 and boasted a 187.6% year-over-year lead.

The majority of covering brokerages firms are hesitant, with 11 of 14 rating Palantir Technologies stock a tepid "hold" or worse, while two recommend a "buy" or better. In addition, the current 12-month consensus target price is $18.71 -- a 28% discount to last night's close. This leaves ample room for analysts to change their tune.

Now may be an ideal time to weigh in on Palantir Technologies stock's next move with options. This is per PLTR's Schaeffer's Volatility Index (SVI) of 58% stands in the relatively low 18th percentile of readings from the last 12 months. This means the options market is pricing in low volatility expectations for the equity right now.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI