Jim Cramer on Palantir: “I’m Not Backing Away From This One Long Term”

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer had in this week’s game plan. Cramer had some positive insights about the company and its CEO, as he stated:

“Monday, after the close, we hear from a company that may be, and this is a little hyperbole, the next Berkshire. Alright, I’m talking about Palantir, run by the brilliant Alex Karp. I know, presumptuous… me, but I am just reporting on the narrative as I keep hearing it from so many people. Palantir’s obviously nothing like Berkshire, but people worship Karp, they do, and they like to think he is the Buffett of what he does, and he does run an amazing consulting and advisory company.

When Palantir’s stock was at $50, I said it would go to $100. When it got to $100, I said it would go to $150. And when it got to $200 this week, I said it’s headed to $250. After this run, I do expect some profit-taking in the quarter, but I’m not backing away from this one long term. Why? It is just too good to ignore. And its clients, whom I’ve checked in with multitudinous, they love them.”

A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels

Palantir Technologies Inc. (NASDAQ:PLTR) develops software platforms that help organizations integrate, analyze, and act on complex data.

While we acknowledge the risk and potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PLTR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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