Top 10 AI Stocks Analysts Are Monitoring

8. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 64

Palantir Technologies Inc. (NASDAQ:PLTR) is a leading provider of artificial intelligence systems. On March 3^rd, Daniel Ives from Wedbush maintained a “Buy” rating on the stock with a price target of $120.00. According to Ives, Palantir is positioned well to gain from Trump’s new cost-cutting measures to streamline government spending. The stock had previously plunged after the Trump administration proposed an 8% annual cut in the US defense budget.

This move potentially hurt the company’s financial health since over 40% of Palantir’s revenue comes from government contracts. As per Ives, despite the belief that defense budget cuts could affect Palantir’s government contracts, the efficiency focus could in turn boost company growth. The analyst highlighted Palantir’s unique software offerings and crucial contract participation, stating that these are unlikely to be impacted. The analysis has since brought relief after the stock plunge.