Palantir won a three-year contract with the FDA

By: Miguel A. Rodriguez

15:59, 08 December 2020

1607425536.jpg
The company's stock jumped amid news development

According to Bloomberg's data, Palantir has recently won a three-year contract with the US Food and Drug Administration. According to the report, the deal is worth $44.4 million. Following the agreement, Palantir will perform drug reviews and inspections.

The deal comes after Palantir had a great Q3 2020 earnings report. Its first report since it became a publicly traded company showed that its revenue grew by 52% to $289 million, topping the $279.3 million consensus. The governmental deals brought Palantir more than $163 million in the past quarter.

In Q4, Palantir is looking for revenues of $300 million, while the market has predicted $296 million.

Following the news, Palantir stock price added 21%. Since September 30, when it went public, its shares jumped 200%.

Read here about how Palantir has performed in Q3!

Sources: cnbc.com, reuters.com

Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.