TECH - What's Going On With Palantir Technologies Stock Today? | Benzinga
Palantir Technologies Inc (NYSE:PLTR) is facing a slowdown in revenue growth from U.S. government contracts, leading to a decline in its stock market performance.
Rishi Jaluria from RBC Capital Markets observes that government agencies seek more cost-effective and flexible tech solutions than Palantir’s.
CEO Alex Karp acknowledges the cyclical and challenging nature of government business compared to commercial ventures, the Wall Street Journal reports.
The competition intensifies as Deloitte and Booz Allen Hamilton Corp (NYSE:BAH) secure more government data analytics contracts.
The company faced its share of other challenges. Earlier in 2024, reports indicated that the U.K.’s National Health Service (NHS) was investigating a possible breach of Palantir’s contract terms after securing a controversial deal.
Palantir also chose to tap the ...