Jim Cramer on Palantir: "It's Going to Go to 200"

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer shared insights on. During the lightning round, when a caller asked about the company, Cramer said:

“Palantir is a company that when it was at 50, I said it was going to go to 100. When it was 100, I said it was going to go to 150. When it was 150, I said it’s going to go to 200, and I am not backing away from that. I know the stock was at 161 earlier today in reverse, but that’s what I’m thinking about.”

Palantir (NASDAQ:PLTR) develops software platforms that support data integration, analysis, and operational decision-making across various sectors. The company’s products are used for tasks ranging from intelligence and counterterrorism to enterprise data management and AI-powered analytics. Cramer mentioned the company in the July 14 episode and said:

“Palantir’s among the fastest-growing tech companies I can recall. It’s got a projected annual growth rate of 18 to 25% out to 2030 with a market capitalization of $352 billion. May not sound that impressive, two years ago it was $35 billion. What does Palantir do? I say, what doesn’t it do? You bring Palantir in to look at patterns to figure out how to run your business better. I’ve never heard anyone say that they aren’t terrific at what they do, making your company money almost the minute you bring them in. They’re also trying to make the Pentagon more efficient. But that’s a tall order. I hope they succeed. So should you.”

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