Jim Cramer Says He Believes in Palantir (PLTR)'s Management

We recently published 9 Stocks on Jim Cramer’s Radar.  Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks on Jim Cramer's radar.

Analytics firm Palantir Technologies Inc. (NASDAQ:PLTR)’s shares are among the top performers in the stock market. They are up by 173% over the past year. Truist initiated coverage on the stock on January 6th and set a $223 share price target along with a Buy rating. The financial firm explained that Palantir Technologies Inc. (NASDAQ:PLTR) could significantly benefit from enabling governments and businesses to adopt generative AI. Truist added that the firm has also benefited from its Artificial Intelligence Platform (AIP) not only in terms of top-line growth but also through robust operating margins. Cramer is also a believer in Palantir Technologies Inc. (NASDAQ:PLTR), and in this appearance, he discussed the firm’s management:

“A lot of people are skeptical of Palantir, because it sells at 244 times earnings. This morning, Truist comes out with a terrific piece. $223 price target, Rule of 80, that means it’s a fast growing company that actually makes money. If you want to read how this company stock got to where it is, the Truist piece is excellent. I continue to believe in the team, you know people keep talking about Alex Karp. There’s a team of people there, Alex is fiery, the other people, not as fiery. But I believe in them, and that’s based on the fact that everybody I speak to who brings them in, just says they have changed their companies radically, making them thinner, better, more effective. My hat’s off to Palantir, I think they’re a really great company.”

While we acknowledge the potential of PLTR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 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.