What's Going On With Palantir Stock Today?

Palantir Technologies Inc PLTR shares are roughly flat Thursday. The company announced an expanded partnership to accelerate delivery of Palantir systems across the Canadian public sector.

What Happened: Palantir announced a partnership with government IT solutions provider Carahsoft Canada, in which Carahsoft Canada will be the sole distributor of the Palantir platform under the Government of Canada’s software licensing supply arrangement.

“Our partnership with Carahsoft Canada represents a key milestone in Palantir’s growth and continued investment in Canada,” said David MacNaughton, director of Palantir Technologies Canada.

“We look forward to the opportunities this will unlock for using Palantir software to transform how Canadian Public Sector entities execute their mandates and achieve mission success.”

Carahsoft’s supply arrangement represents the first time Palantir licenses will be widely available to software licensing supply arrangement clients. It will also provide cost-effective options for evaluating Palantir as part of a pilot.

Palantir is scheduled to report fourth-quarter financial results after the market close on Feb. 5. The company is expected to report earnings of 8 cents per share on revenue of $602.554 million, according to estimates from Benzinga Pro.

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PLTR Price Action: Palantir shares are up more than 130% over a one-year period. The stock initially traded higher Thursday morning before pulling back. Palantir shares were down 0.75% at $16.63 at the time of publication, according to Benzinga Pro.

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