What Is Going On With Palantir Tech Stock Today?
Palantir Technologies Inc. (NYSE:PLTR) shares edged higher during Thursday’s premarket session as the company announced it had received authorization from the Defense Information Systems Agency (DISA) for its Federal Cloud Service (PFCS) Forward.
Palantir Expands PFCS Forward Authorization
Palantir’s PFCS Forward has extended its existing Impact Level 5 and Impact Level 6 Provisional Authorizations to include on-premises and edge deployments, allowing for a more flexible deployment of its technology stack across various environments.
This hardware-agnostic approach is designed to streamline the authorization process, significantly reducing the time required for customers to achieve Authorization to Operate (ATO).
Why It Matters
The new model enables the U.S. Government to deploy multivendor architectures efficiently, which is critical for mission-critical workloads.
With this authorization, Palantir’s platforms can now be utilized in diverse settings, from large-scale data centers to mobile environments, enhancing operational resilience and survivability.
Palantir And National Security
Palantir is an artificial intelligence, analytics, and automated decision-making company that leverages data to drive efficiency across its clients’ organizations. The firm serves commercial and government clients via its Foundry and Gotham platforms, respectively.
Palantir works only with entities in Western-allied nations and reserves the right not to work with anyone that is antithetical to Western values. The company’s recent authorization from DISA underscores its strategic importance in providing cutting-edge technology solutions for national security missions.
PLTR Faces Bearish Trend in Technical Analysis
Currently, Palantir’s stock is trading 12.3% below its 20-day simple moving average (SMA) and 22.3% below its 100-day SMA, indicating a bearish trend in the short to medium term.
Over the past 12 months, shares have increased by 15.58%, and they are positioned closer to their 52-week highs than lows, suggesting a potential for recovery.
The RSI is at 34.71, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum, reflecting uncertainty in the stock’s near-term direction.
- Key Resistance: $145.00
- Key Support: $119.00
Analyst Expectations for PLTR
The stock carries a Hold Rating with an average price forecasast of $193.33. Recent analyst moves include:
- DA Davidson: Neutral (Lowers Target to $180.00) (Feb. 3)
- Citigroup: Buy (Raises Target to $260.00) (Feb. 3)
- UBS: Neutral (Lowers Target to $180.00) (Feb. 3)
PLTR’s Mixed Outlook According to Benzinga Edge
Below is the Benzinga Edge scorecard for Palantir Technologies, highlighting its strengths and weaknesses compared to the broader market:
– Value: Weak (Score: 1.7) — Trading at a steep premium relative to peers.
– Growth: Strong (Score: 92.04) — Demonstrating significant growth potential.
– Momentum: Weak (Score: 20.55) — Stock is underperforming the broader market.
The Verdict: Palantir Technologies’s Benzinga Edge signal reveals a mixed outlook. While the strong growth score indicates potential, the weak value and momentum scores suggest caution for investors.
PLTR Price Action: Palantir Technologies shares were up 0.83% at $136.80 during premarket trading on Thursday, according to Benzinga Pro data.
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