Palantir (PLTR, Financials) is getting a boost after the U.S. Army extended its Maven Smart System contract by $795 million, pushing the total value to $1.3 billion—its first billion-dollar deal.
In the first quarter, Palantir brought in $373 million from U.S. government contracts, up 45% year over year. The company also raised its full-year revenue outlook to $3.895 billion, signaling 36% annual growth.
A senior analyst reiterated an “Outperform” rating and a $140 price target, pointing to the deal as a catalyst for broader portfolio gains. That implies roughly 14% upside from current levels.
Still, Wall Street isn't in full agreement. The average rating on PLTR remains “Hold,” with a consensus target near $94.
The stock rose 0.83% to $123.31 after the news. Investors will be tracking Palantir's government momentum and whether it can deliver on the new guidance.
