Software company Palantir (PLTR) announced that it has partnered with defense company Voyager Technologies to develop artificial intelligence solutions for space. The collaboration will look to improve Space Domain Awareness by reducing the number of collisions and threats for objects that are orbiting Earth. According to Robert Imig, the head of USG Research and Development at Palantir, the company is “further extending the reach” of its AI solutions to space, “where demands are intensifying as the environment grows increasingly contested.”
The partnership will integrate Voyager’s signal-processing electronics and software capabilities with Palantir’s AI and machine learning engines. This will allow the companies to detect and track space objects in real-time. Despite the partnership, Palantir’s shares are down in today’s trading as its downward trend continues.
Indeed, shares are well off their 52-week high of $125.41 per share as insiders continue to sell and valuation concerns among analysts covering the stock linger. As a result, the sentiment among investors who are tracked by TipRanks has become negative, with 1.5% of these portfolios decreasing their PLTR holdings in the past 30 days.
What Is the Prediction for PLTR Stock?
Overall, analysts have a Hold consensus rating on PLTR stock based on four Buys, 10 Holds, and four Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average PLTR price target of $95.33 per share implies 21.45% upside potential.
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