Palantir Technologies, the artificial intelligence-software company whose biggest customer is the U.S. government, won new contracts with the Army worth up to $619 million. The stock added 5% on Thursday,

Palantir Technologies is having such an incredible year, but one Wall Street team advised against chasing those gains. Baird analysts William Power and Yanni Samoilis initiated coverage of the software company at Neutral with a price target on the stock of $70.

Key Takeaways Palantir Technologies shares climbed Thursday after the analytics software provider said it extended a contract with the U.S. Army that could be worth $618.9 million.With Thursday's gains,