Jim Cramer Reiterates His $200 Price Target on Palantir

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer shared insights on. A caller asked whether the stock’s recent pullback presents a buying opportunity. Cramer replied:

“Oh yeah. I mean, Alex Karp, he’s a scholar and gentleman, a sweet guy. I just like him. I want to put him on my fantasy team. That’s how much… I like him… But you know what? Palantir, I still think it’s going to $200.”

Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels

Palantir Technologies Inc. (NASDAQ:PLTR) develops software platforms that integrate, analyze, and manage complex data to support intelligence, security, and enterprise operations. Cramer mentioned the company in an August episode and said:

“These skeptics want to understand crypto, but they can’t get their arms around it. They don’t get how there’s a consultant company that’s won over both the government and the private sector by saving them fortunes, like Palantir. This stock, more than any other, any quantum or nuclear, biotech is the one that truly rankles them. To me, that’s the most irrational view of all, not about Palantir, but about the view that they have. Palantir’s a talented company with a messianic leader who knows how to win big contracts. It’s just, it’s very hard… to value the stock. If you use traditional metrics like earnings per share, the valuation looks insane. But if you use the Rule of 40, the way we do on this show to judge enterprise software stocks, you can understand why this thing won’t stop running. It’s incredibly cheap. Palantir, rational? Let’s just say there’s no method to its madness.”

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