Citi names Palantir, Microsoft, Figma as key AI beneficiaries ahead of Q2 software earnings

Analyst
โดย Seeking Alpha·Read original
Summary · why it matters

Citi has identified Palantir, Microsoft, and Figma as key beneficiaries of enterprise AI spending ahead of second-quarter software earnings. The bank sees improved IT spending during the quarter, with incremental budget dollars flowing disproportionately toward AI infrastructure, cloud platforms, and data modernization projects. Within data infrastructure and AI enablement, Citi prefers MongoDB, Snowflake, and Palantir, while it views Microsoft positively among hyperscalers and AI infrastructure providers, and Figma and Shopify within applications software. Citi maintains Buy ratings on all these companies, with price targets of $455 for MongoDB, $320 for Snowflake, $225 for Palantir, $620 for Microsoft, $36 for Figma, and $156 for Shopify. In contrast, Citi names ZoomInfo and Adobe as its least preferred software names heading into the quarter, citing higher execution risk and a push-out in near-term bookings growth.

Impact on stocks 8

Cloud & Digital Infrastructure± Mixed · 5 stocks
Figma, Inc.
FIG
▲ PositiveDemandrelevance

Citi identifies Figma as a key beneficiary of enterprise AI spending and maintains Buy rating with $36 target.

MongoDB
MDB
▲ PositiveDemandrelevance

Citi prefers MongoDB within data infrastructure and AI enablement, maintaining Buy rating with $455 target.

ZoomInfo Technologies Inc.
GTM
▼ NegativeDemandrelevance

Citi names ZoomInfo as least preferred due to higher execution risk and push-out in near-term bookings growth.

Snowflake Inc.
SNOW
▲ PositiveCapitalrelevance

Citi prefers Snowflake in data infrastructure with a Buy rating and $320 price target.

Shopify Inc
SHOP
▲ PositiveCapitalrelevance

Citi names Shopify as a preferred application software name with a Buy rating and $156 price target.

Artificial Intelligence± Mixed · 3 stocks
Microsoft Corporation
MSFT
▲ PositiveDemandrelevance

Citi views Microsoft positively among hyperscalers and AI infrastructure providers, maintaining Buy rating with $620 target.

Adobe Systems Incorporated
ADBE
▼ NegativeDemandrelevance

Citi names Adobe as least preferred due to higher execution risk and push-out in near-term bookings growth.

Theme Impact 6

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