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