12:01 PM EST, 03/08/2024 (MT Newswires) -- Palantir Technologies' ( PLTR ) flagship artificial intelligence platform, or AIP, is seen by many companies in the US as the "launching pad" of AI use cases, Wedbush Securities said Friday.

"Our recent checks on Palantir ( PLTR ) in the field have been incrementally more bullish" amid the AIP prospects, Wedbush analysts, including Daniel Ives, said in a note.

"With the AI revolution now quickly heading towards the key use case and deployment stage, Palantir ( PLTR ) with its flagship AIP platform and myriad of customer bootcamps is in the sweet spot to monetize a tidal wave of enterprise spend now quickly hitting the shores of the tech sector," the analysts said.

Wedbush raised its price target on the software maker's stock to $35 from $30 while reiterating its outperform rating.

The company's shares were down 1.2% in recent trading.

Price: 26.16, Change: -0.30, Percent Change: -1.15