The U.S. stock market had a rough week in the aftermath of the U.S.-Israel joint strikes on Iran, but Palantir Technologies (PLTR) was a clear outlier.
Palantir’s (PLTR) stock gained nearly 15% last week, marking its best weekly gain since August. Federal contracts account for more than half of the company’s total revenue.
With President Donald Trump indicating that the Iran war may go on for weeks, traders are increasingly snapping up Palantir (PLTR) shares.
Rosenblatt analysts said the “conflict in the Middle East bodes well” for Palantir’s (PLTR) government pipeline, as quoted by CNBC. They added that Palantir could secure more federal contracts, like its $10B pact with the U.S. Army.
Meanwhile, investors don’t seem fazed by the U.S. government’s recent blacklisting of Anthropic (ANTHRO), whose Claude AI code has powered Palantir’s Maven Smart Systems.
Rosenblatt analysts said there are “adequate alternatives” to Anthropic’s (ANTHRO) Claude models.
Palantir (PLTR) shares were down 1.4% before the bell on Monday.