20 AI News and Analyst Ratings You Should Not Miss

9. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 44  

Palantir Technologies Inc. (NYSE:PLTR) builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations. It also provides software to commercial clients such as banks and hospitals. The company recently announced that it had won a $100 million contract from the US army to streamline the AI infrastructure capabilities of the latter. The contract, awarded by DEVCOM Army Research Laboratory, extends the Maven Smart System access to the Army, Air Force, Space Force, Navy, and US Marine Corps. Under the deal, a Palantir platform would support AI battlespace awareness, global integration, force management, logistics, joint fires, and targeting workflows.

Citi analyst Tyler Radke recently met Palantir Technologies Inc. (NYSE:PLTR) CFO Dave Glazer, penning a research note for investors after the meeting. The note reiterated a Neutral rating on stock with a $30 price target. The analyst told investors that the company remained upbeat on its Artificial Intelligence Platform momentum with consistent macro commentary. However, per the analyst, the recent inclusion of the software firm to the S&P 500 Index saw a 15% share uptick, which increased the valuation of the company to one of the most expensive names in software at a 25-times next 12 months enterprise value to sales ratio.