Palantir Technologies (NYSE: PLTR) stock rose over 3% in the intraday trading Tuesday, riding the wave of a broader market rally. Here’s what you need to know.
Last week, Palantir Technologies (NYSE: PLTR) announced its designation as an “Awardable” vendor for the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace. The company revealed that two of its prominent product offerings, the AI Mission Command Capability and the Predictive Maintenance & Precision Sustainment Suite, have been included in the Marketplace.
In addition, recent reports from Marketing Brew indicate that Palantir has been actively pitching its software to advertising agencies, highlighting its potential applications in inventory planning, programmatic sales, and campaign optimization.
Palantir has announced plans to release its first-quarter financial results on May 6 after the market close. Analysts are forecasting earnings of 8 cents per share and quarterly revenue of $625.33 million.
Palantir (NYSE: PLTR) Stock Price Action
At the time of this report, PLTR stock stands at $21.64, showing a 3.20% increase from the previous trading session. This week, it has suffered a 1.10% decline in value. Trading activity has seen 35,707,596 (35.70 million) shares change hands, significantly lower than the average daily volume of 68.88 million.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
