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Palantir Technologies (NASDAQ:PLTR) is expected to navigate upcoming federal budget shifts with strength as it prepares to release first-quarter earnings after Monday's close, according to a client note from Wedbush Securities.
Despite a planned $165 billion cut by the Department of Government Efficiency, Wedbush analysts said Palantir is not on the dark side of the reductions and may, in fact, benefit from increased demand for its government-focused AI platforms.
Analysts highlighted the company's artificial intelligence platform, AIP, as a unique offering that puts Palantir ahead in what they call the AI Arms Race, contrasting its strategic approach with competitors they believe are less advanced in real-world AI deployment.
Wedbush maintains Palantir as one of its top tech picks, calling the company's AIP offering a foundational platform as enterprise clients begin integrating AI into core operations.
Wall Street expects Palantir to post earnings of $0.13 per share on revenue of $862.13 million for the March quarter, according to a consensus estimate.
Palantir shares remained almost flat on Monday trading.
This article first appeared on GuruFocus.