11 Best SaaS Stocks to Buy Right Now

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9. Palantir Technologies Inc. (NASDAQ:PLTR)

Analyst Upside Potential: 8.95%

Number of Hedge Fund Holders: 81

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the Best SaaS Stocks to Buy Right Now. On December 15, Palantir Technologies Inc. (NASDAQ:PLTR) announced the renewal of its three year contract with France’s DGSI, which is the country’s domestic intelligence agency.

The extension results in a partnership that has lasted more than a decade, with Palantir supplying its proprietary software along with related integration, service and deployment services. Management noted that this extension comes at a critical time when demand for increased technology and data privacy has become important for governance. Notably, Palantir Technologies Inc.‘s (NASDAQ:PLTR) tools has helped the French government successfully and securely host important events including 2024 Paris Olympics and Paralympics.

Earlier on December 10, Palantir Technologies Inc. (NASDAQ:PLTR) also announced securing a $446 million contract by the US Navy. This comes as the company is partnering with the US Navy on ShipOS, which is a new initiative that uses Palantir’s Foundry and AI Platform to modernize the Maritime Industrial Base.

That said, Wall Street also maintains a positive outlook on the stock. On December 9, Mariana Perez from Bank of America Securities reiterated a Buy rating on the stock with a $255 price target. Earlier on December 5, Daniel Ives also reiterated a Buy rating on the stock with an associated price target of $230.

Palantir Technologies Inc. (NASDAQ:PLTR) builds data integration and decision-support software used by government and commercial customers. The company’s platforms, including Foundry and AIP, are designed to connect siloed data, model complex operations, and support real-time analysis for planning and execution at scale.

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