Jim Cramer Reiterates $200 PT for Palantir

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks that Jim Cramer shed light on. During the episode, Cramer reiterated his $200 price target for the company stock, as he said:

“If the market could mount such a comeback after a very difficult moment, which was Liberation Day, and against all these institutions, then why not keep buying? It’s working. Okay, so now you can quibble over what these people are buying. There’s a lot of money going into the high-flying stocks, stocks like Palantir, and I told you, $50 goes to $100, $100 goes to $200.”

A software engineer manipulating a vast network of code on virtual monitors.

Palantir (NASDAQ:PLTR) creates software platforms that uncover patterns in complex data, support operational decisions. The company integrates AI tools to improve intelligence analysis and organizational workflows. Cramer mentioned the stock during the July 1 episode and said:

“The biggest winner of the first half was, of course, Palantir Technologies, the government enterprise software company with the stock that’s beloved by individual investors. It finished the first six months of the year up more than 80%. The skeptics will point to Palantir’s nosebleed valuation, I mean, this is now a $308 billion company, trades at a mere 225 times this year’s earnings estimates, or the fact that very few people can articulate what their software really does.

But that’s par for the course with enterprise software stories, and Palantir’s got tremendous growth with surprisingly high margins. Just as important, the people who run the company are simpatico with the Trump administration, especially the Defense Department. Good way to win business. They want to change the Defense Department in a way that I think you and I might want, but they’ll just say it in a potty-mouth way.

Palantir’s now a $130 stock, and I’ve said for a while now that it’s headed to $200, not because of the fundamentals, but because that’s how momentum stocks behave. Just remember, if you’ve got huge gains in this one, those gains don’t count until you’re reading the register on part of the position. Take something off the table, let the rest run, play with the house’s money.”

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