Jim Cramer Discussed 10 Stocks That Can Do Well in December

7. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Holders: 43

Cramer discussed Palantir Technologies Inc.’s (NYSE:PLTR) recently reported impressive quarter, and federal contracts and mentioned he liked its defense business.

“Why don’t we start with Palantir, which reported one of the best quarters of the year, fantastic growth, fantastic gross margins. That’s right. growth and gross margins together, that is fabulous. And they’re killing it with federal contracts, including some important work for the Pentagon. Palantir’s people… tend to win almost everything that they tender for. They also have a great commercial group, but I like their defense work. It’s a, what I used to call a total up stock.”

Palantir (NYSE:PLTR) is a prominent developer of advanced software platforms that specialize in integrating and analyzing complex data to aid in decision-making. Known for its work with government agencies, it provides essential tools for data-driven operations. Earlier this year, the company secured a significant $480 million contract from the U.S. Department of Defense to develop a prototype called the Maven Smart System.

This contract, expected to be completed by May 2029, marks a further deepening of the company’s relationship with the Pentagon, following a sole-bid solicitation from the Defense Department. Additionally, we talked about the company’s third-quarter earnings report in our article, Jim Cramer’s Best Performers List: Top 10 Stocks. Here is an excerpt from the piece:

“Palantir (NYSE:PLTR) saw particularly strong growth within its government business. Revenue from government contracts rose 33% year over year to $408 million, with U.S. government revenue alone surging by 40%, reaching $320 million. This marked the highest growth the company had experienced from its largest customer in 15 quarters.”

In November, Palantir (NYSE:PLTR) entered into a partnership with Anthropic and Amazon Web Services to offer U.S. intelligence and defense agencies access to the Claude 3 and 3.5 model families on AWS. The integration of these Claude models within Palantir’s data analytics platform will help government agencies process large amounts of complex data rapidly, identify patterns more effectively, streamline document review, and assist in making informed decisions during time-sensitive situations.