Palantir Technologies Inc. (NASDAQ:PLTR) ranks among the best momentum stocks to buy. Palantir Technologies Inc. (NASDAQ:PLTR) was awarded a $100 million contract by the U.S. Army to the Anduril-Palantir collaboration for the Next-Generation Command and Control (NGC2).
Announced on July 21, the 11-month contract tasks the companies to develop the next phase of NGC2, one of the top-priority projects for the U.S. Army. The contract is considered a major victory for both companies, and Palantir Technologies Inc. will likely choose to integrate its Edge Data Mesh and Maven Smart System into NGC2.
Palantir Technologies Inc. will receive $30 million of the total contract value, according to William Blair, with the possibility of growing that amount to exceed $150 million in annual recurring revenue over the next three years.
Palantir Technologies Inc. is a software and data analytics company that develops platforms for large corporations, financial institutions, and government organizations to analyze massive amounts of data.
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