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Palantir Technologies Could See Lower Contract Values in Q1, RBC Says

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-- Palantir Technologies (PLTR) could see a decline in qualified contract value and net new annual contract value for the second consecutive quarter in Q1, even with the ongoing Middle East conflict, RBC Capital Markets said in a Tuesday note.

RBC expected the conflict to serve as a near-term tailwind for the company's government business, but its government tracker indicated a potential decline in Palantir's contract values, according to the note.

Meanwhile, concerns remain over the company's commercial business amid stiff competition in the sector, the investment firm noted.

Palantir Technologies is set to release its Q1 results on May 4.

RBC maintained its underperform rating and $90 price target on Palantir Technologies.

Price: $137.06, Change: $-4.12, Percent Change: -2.92%

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