Jim Cramer on Palantir: "It's Growing Like a Weed"

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks in Jim Cramer’s game plan for this week. Cramer called it one of the “hottest stocks,” as he commented:

“After the close Monday, we hear from the most controversial stock in the entire market, and that’s Palantir Technologies, the AI-fueled software company has become one of the hottest stocks there is with an almost cult-like shareholder base led by the messianic CEO Alex Karp. I predict a total blowout that will smoke the shorts because Karp’s still getting a ton of business and repeat business from everything, from consumer packaged goods to the federal government. It’s growing like a weed.”

Palantir (NASDAQ:PLTR) develops software platforms like Gotham, Foundry, and Apollo that enable data integration, analysis, and operational decision-making across sectors, including intelligence, defense, and enterprise operations. The company posted its earnings on August 4, reporting an EPS of $0.16, outperforming the estimates by $0.02. The company’s revenue was up 47.5% year-over-year at $1 billion and beat estimates by $60.5 million. Palantir (NASDAQ:PLTR) expects revenue between $1.083 billion – $1.087 billion for the third quarter.

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