20 Trending AI Stocks on Latest Analyst Ratings and News

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10. 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. The company recently revealed that it had signed a multi-year, multi-million-dollar extension of an enterprise deal with energy firm APA Corporation to leverage artificial intelligence tech of the former across the oil and gas operations of the latter. Travis Osborne, the CIO of APA, said on the occasion that the existing partnership with Palantir had enabled improved operational efficiency and business visibility across the global portfolio and APA was excited to expand the use of Palantir AI capabilities to build on this foundation and accelerate performance and cost management even further.

Raymond James analyst Brian Gesuale recently downgraded Palantir Technologies Inc. (NYSE:PLTR) stock to Market Perform from Outperform without a price target. In an investor note, the analyst noted there was enthusiasm about Palantir’s longer term positioning in artificial intelligence, but the downgrade represented a view that the stock needed to consolidate stellar gains over the last couple of years and grow into its rich valuation. Per the analyst, Palantir shares had appreciated over 120% year-to-date and six-fold over two years, while the stock’s valuation had expanded five-fold, making it the richest software name.

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