01:21 PM EDT, 05/07/2024 (MT Newswires) -- Palantir Technologies' ( PLTR ) artificial intelligence platform is fueling its growth momentum, Wedbush said in a Tuesday note, after the company's Q1 revenue topped market expectations.

"We continue to see increased momentum in the PLTR growth story with AIP leading the charge in generating significant

demand across both commercial and government landscapes," Wedbush analysts, including Daniel Ives, said.

"We are laser focused on the AI story playing out with AIP leading the way," they added.

Wedbush kept its outperform rating and price target of $35. Palantir ( PLTR ) shares slumped 14% in recent trading.

"We believe any modest sell-off post print is a golden buying opportunity for this pure play AI name," the analysts said.

Price: 21.58, Change: -3.64, Percent Change: -14.42