© Reuters Wall Street analysts remain positive on Palantir (PLTR) following AIP Conference
Analysts at BofA and Wedbush maintained their positive outlooks on Palantir (NYSE:) in notes this week following CEO Dr. Alexander Karp’s comments at the company’s AIP Conference.
BofA analysts told investors in a note that Karp kicked off the second AIPCon announcing that since the June launch, AIP now supports 150 customers and increased 50% month-on-month.
“To accelerate new customer adoption even further, PLTR is launching an AIP Bootcamp,” explained the analysts, who maintained a Buy rating and $18 price target on the stock. “We see the 5-day Bootcamp, covering 1. Applying AI to operations 2. Developing uses cases 3. Onboarding and training users, as a major improvement in PLTR’s customer acquisition strategy.”
“Previously, PLTR relied on extended trial runs with intense support from PLTR’s forward-deployed engineers. We see the new strategy as having a greater ability to scale, capture the increased demand, and being less capital intensive if a company ultimately chooses not to pursue the project.”
Wedbush analysts said that commercialization is on its way while retention is high.
“In eye-popping up-times with customers that we spoke with at the conference completely & fully integrated between 1-4 weeks of signing papers, an impressive feat that speaks to the PLTR AI vision now playing out,” said the analysts, who kept an Outperform rating and $25 price target on PLTR shares.
They added: “With each conversation we had with many existing and potential customers of Palantir across a myriad of industries (financial services, oil & gas, transportation, manufacturing, healthcare, software, services, etc.), learning pain points and various opportunities to improve efficiencies from a corporate perspective, we came away with one final conclusion from the event; Foundry and AIP are leading the commercial front with a loyal consumer base paving the way for future success stories.”