TLDR:
Key Points:
- BofA Securities adds Palantir to its top 10 best U.S. ideas list for the third quarter.
- Joe Terranova sees momentum in Palantir and another AI data software name that he says is on the verge of a breakout.
In a recent article by Benzinga, momentum investor Joe Terranova praised Palantir as an “AI Halo” play and highlighted Datadog as a software bottoming process sets in. BofA Securities recently added Palantir Technologies Inc to its top 10 best U.S. ideas list for the third quarter. Terranova explained that Palantir has seen growth in revenue attributable to AI and is starting to boom in the commercial sector. He also mentioned that Datadog is a critical area of AI that many are not focused on yet, particularly in terms of security monitoring for applications. Terranova believes that there might be a bottoming process unfolding for software and expects momentum to stay for a while. Palantir shares were up 2.15% and Datadog shares were up 1.29% at the time of the article.