Palantir-backed space company Voyager (PLTR) eyes IPO

Defense and space company Voyager Technologies, which counts Palantir Technologies (PLTR) among its investors, has filed for an initial public offering (IPO).

The Denver-based company is expected to be valued between $2 billion and $3 billion, according to a report in The Wall Street Journal. Voyager is developing a commercial space station with funding from NASA. It has 1,000 employees and also operates a defense and national security activity.

News of Voyager’s IPO comes as Wall Street prepares for what is expected to be a busy year for IPOs and deals under the new administration of U.S. President Donald Trump. The Trump administration is also expected to focus on space, with the president saying during his inauguration speech that he wants to go to Mars.

Space stocks are increasing

Voyager appears to be released to the public at an opportune time. Space stocks are up sharply since Trump’s inauguration, with several names such as Rocket Lab USA (RKLB) and Intuitive Machines (LUNR) up 15% or more in the past week.

Founded in 2019, Voyager counts Palantir Technologies among its largest pre-IPO investors. Voyager and Palantir have a strategic partnership that integrates Palantir’s artificial intelligence (AI) capabilities into its defense work. The private space station that Voyager is preparing to build with funding from NASA in low Earth orbit is called “Starlab.”

The exact date of the next IPO has not yet been announced.

Is PLTR Stock a Buy?

Since Voyager is not yet publicly traded, we instead turn to one of its largest investors, Palantir Technologies. PLTR stock enjoys a Moderate Sell consensus rating among 19 Wall Street analysts. This rating is based on two buy, 10 hold, and seven sell recommendations issued over the past three months. PLTR’s average price target of $48.27 implies a downside risk of 33.94% from current levels.

Read more analyst notes on PLTR stock