Jim Cramer Says Palantir CEO Alex Karp “Knows What He’s Doing”

• StockStory Top Pick PLTR +4.78%

Palantir Technologies Inc. (NASDAQ:PLTR) is one of the stocks Jim Cramer recently shed light on. A caller asked for Cramer’s opinion on the company, and he replied:

“Alright, I’m a buyer of Palantir. I know it’s come off, but it’s a wild trader. This is Alex Karp. He’s not a close friend of mine, but I think he knows what he’s doing.”

Photo by Joshua Mayo on Unsplash

Palantir Technologies Inc. (NASDAQ:PLTR) develops data analytics and AI software platforms, including Gotham, Foundry, Apollo, and Palantir Artificial Intelligence Platform, that help organizations integrate, analyze, and act on complex data. Cramer discussed the company during the November 10 episode and said:

“Palantir’s harder. Alex Karp seems like a renegade, but he really isn’t. He’s constantly trying to explain why his company’s worth what it is, and he never stops crushing the expectations. I believe in Karp’s leadership because you know what? I’ve been around… My hat’s off to Palantir. I wouldn’t short that thing even after this run… When it was at $50, I said, it would go to $100. When it was at $100, I said it would go to $150, and when it was $150, I said it was going to go to $200. And now I think it’s going to $250 after this pit stop, 178 up to 193.

While we acknowledge the potential of PLTR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, 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.