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.
While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
: 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.