Palantir Technologies Inc. (PLTR) Is Driving Efficiency Drive At Defense Contractors

We recently published 12 Stocks Jim Cramer Discussed As He Said “Pilots Are Too Expensive”. Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer recently discussed.

Palantir Technologies Inc. (NASDAQ:PLTR) is a stock frequently discussed by Cramer in his morning show. The shares have gained a whopping 105% year-to-date as the firm remains the only pure-play analytics provider with significant catalysts from cost-cutting initiatives at the US government. Cramer’s previous comments about Palantir Technologies Inc. (NASDAQ:PLTR) have seen him proudly claim that he predicted the stock would cross the $100 price mark well before Wall Street analysts. This time, he discussed the firm in the context of a new age of defense contractors springing up and efficiency drives at the old ones:

“But I do think that we’re gonna have to start focusing, [inaudible] Palantir. I mean Palantir is behind a lot of the effort to have contractors be competitive.”

Palantir Technologies Inc. (PLTR) Is Driving Efficiency Drive At Defense Contractors
Palantir Technologies Inc. (PLTR) Is Driving Efficiency Drive At Defense Contractors

Copyright: rawpixel / 123RF Stock Photo

Earlier, Cramer discussed how he had been bullish on Palantir Technologies Inc. (NASDAQ:PLTR) well before others:

“Remember Palantir, I said at 50 it goes to 100. When it gets to 150, it gets to 200. I’m gonna revise my price target when it gets to 200. Cause it doesn’t matter. It doesn’t matter, it’s got the Rule of 40. It has the messianic CEO. When you bring them in, they make you money. And it has what this market really wants. Which is momentum.

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.

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