DENVER – Palantir Technologies Inc . (NASDAQ: NASDAQ:), a data analytics powerhouse with a market cap of $151 billion and impressive gross profit margins of 81%, has achieved Federal Risk and Authorization Management Program (FedRAMP) High Authorization for its entire suite of products. announced today. This approval allows Palantir to offer its cloud services, including the Palantir Federal Cloud Service (PFCS) and supporting services, to process the U.S. government’s most sensitive, unclassified data. According to InvestingPro, the company maintains a strong financial health score, with twelve analysts recently upgrading their earnings estimates.

FedRAMP High Authorization is an important milestone that indicates that a cloud service meets the strict security requirements of the US government for processing, storing and transmitting highly sensitive data. Palantir’s PFCS enables rapid deployment of its software to federal customers, addressing complex data analytics needs in the civilian, defense and intelligence sectors. The company’s strong market position is reflected in its revenue growth of 24.5% over the last twelve months, with annual revenues of $2.65 billion.

Akash Jain, CTO and president of Palantir USG, expressed his pride in the authorization, calling it an affirmation of Palantir’s commitment to security and its role in strengthening government operations with advanced AI and machine learning capabilities. Jain also highlighted the potential for collaboration with technology partners to support critical government missions.

Palantir’s cloud services provide a range of capabilities, including data integration, analytics, visualization and cybersecurity, designed to improve the efficiency and effectiveness of government operations. PFCS-SS, the supporting cloud-hosted environment, provides federal customers with secure access to commercial software on the FedRAMP High baseline.

The FedRAMP authorization builds on Palantir’s previous security credentials, including FedRAMP Moderate and Department of Defense Impact Level 5 and 6 authorizations. This advancement underscores the company’s continued efforts to meet the extensive security needs of its government partners.

The announcement is based on a press release and does not contain any forward-looking statements or predictions of future performance. Palantir Technologies, known for its foundational software solutions, continues to focus on delivering secure, high-quality services to its federal customers. Based on InvestingPro analysis, the stock appears to be trading above its fair value, with over 20 additional ProTips available to subscribers. For comprehensive insights into Palantir’s valuation and growth prospects, investors can access the detailed Pro Research Report, part of the comprehensive coverage available on more than 1,400 top US stocks.

In other recent news, Palantir Technologies Inc. seen significant developments in its financial performance and market prospects. Palantir reported a 30% year-over-year revenue increase, mainly due to a surge in demand for artificial intelligence. The company raised its full-year revenue guidance to $2.807 billion, which represents a 26% year-over-year growth rate. Despite a 7% decline in international commercial revenues, Palantir secured 104 deals, each worth more than $1 million, contributing to a total U.S. commercial contract value of nearly $300 million.

BofA Securities and Wedbush both raised their price targets for Palantir, while Argus and Jefferies downgraded the company over valuation concerns. BofA Securities expects commercial growth of 34% for Palantir over the next three years, while Wedbush sees significant potential in Palantir’s artificial intelligence and processing strategy.

Palantir also announced its decision to transfer its listing of Class A common stock from the New York Stock Exchange to the Nasdaq Global Select Market. This move is in line with the company’s strategic plans to meet the eligibility requirements for the Nasdaq-100 Index. In addition, Palantir launched new developer tools at its first Developer Conference, DevCon, aimed at improving the development process for its users. These are the latest developments for Palantir and reflect the company’s continued growth and evolving market position.

This article was produced with the support of AI and reviewed by an editor. For more information see our General Terms and Conditions.