Jim Cramer on Palantir Technologies (PLTR): 'Meme Guys Are Pushing It Up Every Day'

We recently published a list of 10 Stocks on Jim Cramer’s Radar These Days. In this article, we are going to take a look at where Palantir Technologies Inc (NASDAQ:PLTR) stands against other stocks on Jim Cramer’s radar.

Jim Cramer in a latest program on CNBC talked about the latest trends in the AI data center industry and said that based on reports from some of the leading companies, there is no  slowdown in demand:

“Now that earning season is well underway, we’ve heard from a bunch of companies connected to the AI data center theme, and you know what? They’ve been putting up pretty darn good numbers. It’s almost like there was never anything wrong with the AI infrastructure story in the first place.”

Cramer then talked about several major AI companies and said that most top firms are seeing strong demand for data centers. He believes Satya Nadella-led tech giant slowed down its AI spend amid its “breakup” with OpenAI.

“Wall Street’s become very skeptical, and I don’t think that’s really changed. But looking at what we’ve seen so far this earning season, I’m feeling much more sanguine about the story, especially if we get some more trade war de-escalation from the White House and stocks stay as cheap as they are. And man, are they ever cheap.”

READ ALSO 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In

For this article, we picked 10 stocks Jim Cramer recently talked about during his shows on CNBC. With each company, we have mentioned its latest hedge fund sentiment. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Palantir Technologies Inc (NASDAQ:PLTR)

Number of Hedge Funds Investors: 43

Jim Cramer was asked about Palantir Technologies Inc (NASDAQ:PLTR) in a latest program. Here is what he said:

“The meme guys are pushing it up every day. They push it up in the morning. They usually start around 3:30. I get up earlier than they do, so I watch them do it. And it just blossoms each day. What a blast. The manipulation is incredible. But you know what? In the new regime, it’s just called solid buying.”

Baron Asset Fund stated the following regarding Palantir Technologies Inc. (NASDAQ:PLTR) in its Q4 2024 investor letter:

“Two software stocks that the Fund did not own, Palantir Technologies Inc. (NASDAQ:PLTR) and AppLovin Corporation, each gained more than 100% and accounted for 52% of the Benchmark’s gain during the quarter. At year end 2024, Palantir was valued at approximately 200 times its expected 2024 earnings, while AppLovin was valued at 80 times. The market cap of each exceeded $100 billion, and the two stocks represented nearly 8% of the Index. Neither company met our criteria for investment. The total impact on relative performance from Palantir and AppLovin was about 7 times higher than we have seen historically for two securities that are unique to the Benchmark, showing just how unparalleled the event was and something that we believe is unlikely to be repeated.”

Overall, PLTR ranks 6th on our list of stocks on Jim Cramer’s radar. While we acknowledge the potential of PLTR, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than PLTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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