Palantir Stock Continues To Rise: What's Going On?

Palantir Technologies Inc PLTR shares are trading higher. BofA Securities raised its price target on the stock Monday morning.

What Happened: BofA Securities analyst Mariana Perez maintained Palantir with a Buy rating and raised the price target from $13 to $18.

Palantir shares have been trending higher over the last month and hit new 52-week highs last week on the back of several price target increases. 

Jefferies raised the price target on Palantir from $10 to $14 and Goldman Sachs raised its price target from $9 to $10.

Palantir also announced several new deals last week including a contract from the US Special Operations Command worth up to $463 million and an agreement with Panasonic Energy of North America in which the company will use Palantir's Foundry platform to integrate edge sensors, introduce automated efficiencies and enable users to leverage connected operations. 

Palantir also announced the launch of Palantir Foundry for manufacturing on Amazon.com Inc's AMZN Web Services last week. 

See Also: Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Are Secretly Monitoring But Not Talking About Yet

PLTR Price Action: Palantir shares are up more than 60% over the last month.

The stock was up 5.13% at $15.79 at the time of writing, according to Benzinga Pro.

Photo: Cory Doctorow from Flickr.