Bullish options flow was detected in PLTR stock on January 22, 2021.

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On January 19, 2021, Palantir Technologies (NYSE:PLTR) provides California’s largest investor-owned utility with technology to help it streamline data management across the company to improve its electric operations and asset management, resulting in enhanced electric system safety and grid reliability.

Pacific Gas and Electric Company (PG&E) has initiated Palantir’s Foundry software deployment to provide a single, integrated platform to give decision-makers a real-time, complete operational picture.

In its early stages of deployment, the use of this novel technology has already enabled PG&E to make effective, timely, data-driven decisions related to its Public Safety Power Shutoff program and is intended to inform further its wildfire risk mitigation programs and initiatives in the future.

“Our engagement with California’s largest investor-owned utility underlines our commitment to increasing safety and reliability for customers and communities across the region,” said Olivier Farache, Palantir’s Head of Utility Sector and Senior Advisor to the CEO. “It shows our Foundry software can power data-driven decisions that aim to improve service delivery.”

This multi-year, multi-million-dollar contract marks the first time Palantir’s Foundry software is being used by a major U.S. utility’s operations. In the future, plans for Foundry include expanding to inform asset risk and outage investigation, eventually bringing in data from all aspects of the company’s operations to enable enterprise analytics and process improvement.

Palantir Technologies landing the California contract is in line with their political contributions to the Joe Biden campaign and Democrat party:

Palantir Technologies campaign contributions 2020. Source: OpenSecrets.org

On January 13, 2021, Citi analyst Tyler Radke downgraded Palantir Technologies to Sell from Neutral with a price target of $15, up from $10. After a 150% rise in the stock since the September direct listing, the analyst believes that the stock is “vulnerable” heading into 2021 with the upcoming expiration of a stock lockup and an expected deceleration in growth. Radke sees risk around the lapping of COVID-19 related contracts, which he says have the potential to become headwinds in the second half of 2021 and into 2022. He is also more skeptical of the Palantir “bull case” in the commercial business. Radke questions bullish optimism that the company’s simplified new products can drive an inflection in customer growth. The analyst sees high competition levels and the lack of investment by Palantir in the “right areas” limiting its success. However, Radke ignores crony-capitalism and how much the Democrats can drive business to Palantir Technologies for their financial donations to the DNC and Joe Biden in the 2020 election.

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