Red Cat Teams Up With Palantir For Modern Warfare Edge; Stock Jumps
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2024
0mins
Source: Benzinga
Partnership Announcement: Red Cat Holdings has partnered with Palantir Technologies to integrate Visual Navigation software into its Black Widow drones, enhancing their capabilities for modern warfare by utilizing AI for accurate navigation without GPS.
Market Impact: Palantir has been added to the Nasdaq-100 Index, which may increase its visibility and attract investment, while its stock has seen significant growth over the past year.
Analyst Views on RCAT
Wall Street analysts forecast RCAT stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for RCAT is 15.00 USD with a low forecast of 12.00 USD and a high forecast of 18.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 15.610
Low
12.00
Averages
15.00
High
18.00
Current: 15.610
Low
12.00
Averages
15.00
High
18.00
About RCAT
Red Cat Holdings Inc is a Puerto Rico-based provider of products, services, and solutions to the drone industry. The Company provides its services to the enterprise, military, and consumer markets via designing, developing, marketing, and drone software and products' sales. Red Cat's Golden Eagle drones are approved by the Department of Defense for reconnaissance, public safety, and inspection applications. Through its wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, The Company develops American-made hardware and software that support military, government, and public safety operations across air, land, and sea. Its Family of Systems, led by Black Widow, delivers tactical capabilities in small, unmanned aircraft systems (sUAS). The Company's offering also includes uncrewed surface vessels (USVs), delivering integrated platforms designed to enhance safety and multi-domain mission effectiveness.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
