All The People Who Work At Palantir Technologies Inc. (PLTR) Are “Geniuses,” Says Jim Cramer

We recently published Jim Cramer Said Quantum Computing Could Quench AI’s Thirst For Water As He Discussed These 14 Stocks . Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer recently discussed.

Palantir Technologies Inc. (NASDAQ:PLTR) is a data analytics company whose shares have run into a bit of trouble recently. They have lost a whopping 16.6% over the past five days to underscore the inherent volatility in shares, which trade at 500x earnings. Cramer has been one of the first to predict Palantir Technologies Inc. (NASDAQ:PLTR)’s strong performance and has praised the firm for its earnings performance. These comments were made just as the dip started, and Cramer discussed a piece by Citron Research outlining that Palantir Technologies Inc. (NASDAQ:PLTR) was worth $40 considering OpenAI’s $500 billion valuation:

“[On a Citron piece] David, Palantir? You want to get in the way of that juggernaut? The only people who short that . . .and they don’t even know. One guy called me and he goes, listen man, I’m shorting this stock, I don’t know if you know it. Plantir! Plantir!

“And yet we all know people who work at Palantir and they are geniuses. . . they are hardworking. And, you know they believe in ontology, it’s an ontological place. I’m not an ontologist myself, but I do think that having read and studied Alex Karp, I don’t want to take the other side of the trade. I think the guy is a serious competitor.”

The CNBC TV host praised Palantir Technologies Inc. (NASDAQ:PLTR) after its earnings. Here is what he said:

“Palantir Technology reported a spectacular quarter after the close, much better than expected revenue, up 48% year-over-year, 2 cent earnings beat off a 14 cent basis, management raising their full year forecast dramatically. Company’s Rule of 40 score, which combines the revenue growth rate with the adjusted operating margin, came in at 94 for the quarter. I’ve never seen anything like it, so no wonder this already red-hot stock could surge in after-hours trading.

And look, I get Palantir. It’s among the most popular stocks in the universe. Alex Karp’s one of the smartest, most perceptive CEOs I’ve ever met. His team is amazing, and the contracts he accrued are incredible. But his stock, it’s overvalued versus any metric that I can find, the least of which may be earnings per share. It sells at something like an astounding 277 times earnings, and that was before this quarter and tonight’s after-hours gains. I accept that. Sometimes you have to pay too much for a real spec.”

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Disclosure: None. This article is originally published at Insider Monkey.