If you’re planning to raise Hell in Gotham, you’re gonna have to go through Batman first.
The Caped Crusader looms large over the crime-ridden comic book city and he’s said to be a significant presence in the New York office of Palantir Technologies (PLTR)  in the form of a statue and prints.
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And just to keep the superhero imagery going, the company’s Manhattan location is called Gotham, which is also the name of Palantir’s core government product.Â
The company provides AI-driven data analytics software, and Gotham, released in 2008, is used widely by government agencies, including intelligence, defense, law enforcement, and national security organizations, for threat analysis, operational, intelligence gathering and other tasks.
“Gotham’s targeting offering supports soldiers with an Al-powered kill chain, seamlessly and responsibly integrating target identification and target effector pairing,” Palantir said on its website.Â
“Operators experience enhanced situational awareness and effectiveness as Gotham streamlines critical decision-making in the modern battlespace.”
Palantir CEO: software embraced by defense sector
The company encourages users to “harness the full power of the platform from operations centers to the edge, transforming any bunker or outpost into an instant command center with mixed reality capabilities.”
“We are making America more lethal, making our adversaries increasingly afraid of acting against the interest of America and especially Americans,” Alex Karp, Palantir’s outspoken CEO and co-founder, has said.
In a letter to shareholders, Karp said in May that the company’s U.S. government revenue increased 45% year-over-year to $373 million in the first three months the year.
“Our software systems for planning and executing special forces and other military operations, and for assessing and selecting targets, has been embraced by the American defense sector,” he said.
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Palantir has been criticized for its involvement with agencies like U.S. Immigration and Customs Enforcement for enabling mass deportation programs.
In response to a May 30 New York Times article, the company said in a blog post that it was “committed to providing transparency around who we are and what we do.”
“Since our founding, we have always placed the preservation of privacy and civil liberties at the center of our mission,” the post said.
Palantir has fared well in the Trump administration’s efforts to streamline the government.
The Denver company’s stock more than doubled (up 112%) this year and has skyrocketed 550% from this time in 2024.
Piper Sandler recently initiated coverage of Palantir with an overweight rating and $170 price target, according to The Fly.
The shares are richly valued but the company offers “one-of-a-kind” growth and margin potential, the firm said.
Piper Sandler said Palantir could grow to a $24 billion revenue run rate by 2032 due to market-share gains in two trillion-dollar total addressable markets – government and U.S. commercial.
Fund manager: Contract gives Palantir chance to beat, raise
The firm told investors to be patient and buy the shares on weakness, as it sees Palantir as a winner in the artificial intelligence revolution.
Palantir is scheduled to report second-quarter earnings after the market closes on Aug. 4.
Related: Analyst revamps Palantir stock forecast before earnings
The company is forecasting quarterly revenue of $934 million to $938 million, surpassing the consensus estimate of $899.1 million.
On Aug. 1, Palantir said that it had signed a contract with the U.S. Army valued at up to $10 billion over the next decade.
The deal consolidates multiple contracts into a single enterprise agreement, giving the Army more flexibility in purchasing software and services and reduces procurement delays and contract-related fees.
Chris Versace, TheStreet Pro portfolio’s lead manager, says the contract will be a hot topic on the company’s earnings call, but reminded investors that “Palantir shares have run.”
“We’re mindful that we’re going to have to likely bump up our price target again, yet again, especially after this multiyear, very, very large Army contract,” he said.Â
“But because of the sharp run in Palantir shares, remember that they will need to deliver a beat and raise quarter,” he added. “This contract likely gives them the room to do that. “
However, Versace said, given the size of the move, some investors out there might not impressed by what the company puts up.
“We, of course, are going to take a longer term view, he said. “If we see Palantir shares sell off in the next couple of days, that could give us an opportunity to bulk up that position, which is not on the larger size for the portfolio. And we continue to believe that we are in the early days of AI adoption.”
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