Palantir Technologies is challenging the Defense Intelligence Agency (DIA) over a data analytics modernization contract, according to a May 21, 2026, Axios report. The company argues the DIA is wasting taxpayer funds by excluding commercial software providers from the bidding process.
Palantir shares fell 1.1% in premarket trading following the news. The stock later stabilized to trade at $137.52 during intraday sessions.
Rosenblatt Securities reaffirmed a buy rating for the company. The firm maintained a $225 price target and labeled the price dip a buying opportunity.