Jim Cramer on Palantir: "I'm Not Backing Away From This One Long Term"

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer had in this week’s game plan. Cramer had some positive insights about the company and its CEO, as he stated:

“Monday, after the close, we hear from a company that may be, and this is a little hyperbole, the next Berkshire. Alright, I’m talking about Palantir, run by the brilliant Alex Karp. I know, presumptuous… me, but I am just reporting on the narrative as I keep hearing it from so many people. Palantir’s obviously nothing like Berkshire, but people worship Karp, they do, and they like to think he is the Buffett of what he does, and he does run an amazing consulting and advisory company.

When Palantir’s stock was at $50, I said it would go to $100. When it got to $100, I said it would go to $150. And when it got to $200 this week, I said it’s headed to $250. After this run, I do expect some profit-taking in the quarter, but I’m not backing away from this one long term. Why? It is just too good to ignore. And its clients, whom I’ve checked in with multitudinous, they love them.”

Palantir Technologies Inc. (NASDAQ:PLTR) develops software platforms that help organizations integrate, analyze, and act on complex data.

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