There are a few catalysts that have turned Palantir (NYSE: PLTR) into a speculative company with revenue limitations into a potentially high growth, long-term data analytics leader. The company used to have a sole reliance on government contracts, which raised uncertainties regarding sustained revenue streams and the legitimacy of the company’s fundamental business model.
However, a recent shift has provoked a directional change towards the commercial space, locking in important, long-lasting contracts as large-scale analytics becomes more homogenous in modern economic technology. Also, widespread insider selling hasn’t exactly tempted bulls back into the stock, but with signs that this is potentially slowing; the company is attractively priced.
Today, Palantir announced the expansion of an existing partnership with satellite imagery specialist Satellogic. The company will be the latest to utilize Palantir’s hot new Foundry program, a data-driven platform that has been attracting serious attention amongst forward-thinking enterprises.
Not only will Satellogic be able to utilize rapid image product delivery, AI model training, and wide-scale data integration, but Palantir’s customers will have access to Satellogic’s Aleph platform APIs in order to power Palantir’s cutting-edge MetaConstellation and Edge AI.
Foundry could be the game-changer for Palantir, finally providing the company with a readily-available commercial utility it can leverage in the public and private sectors – instead of somewhat sporadic government contracts. In this case, Palantir’s industry-leading technology will accelerate the critical role of recording geospatial data; as Matthew Tirman, President of Satellogic North America stated:
“The holistic capabilities of Palantir's Foundry will be instrumental in helping Satellogic realize our mission to improve life on Earth”
There is no doubt that analytical insight will drive economic efficiency in the years to come. As data becomes more and more instrumental to modern practices, from technology to industry, Palantir is well poised for expansion – especially thanks to the company's accessible Foundry platform. Palantir stock has had a good start to this trading week, bouncing from record lows with a 7% gain on Monday, extended by a further 4.5% gain on Tuesday. High-growth technology companies are currently seen as precarious investments, but Palantir still seems like a solid long-term bet.
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Oliver is a financial writer and analyst specialising in the US stock market, with years of personal experience in understanding micro/macroeconomic structures, market trends and fundamental analysis.