Palantir Technologies Inc (PLTR) Announces Renewal of Its 3 Year Contract with DGSI

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.

While we acknowledge the potential of PLTR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PLTR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.