Jim Cramer Looked At These 11 Stocks Recently

7. Palantir Technologies Inc. (NASDAQ:PLTR)

Number of Hedge Fund Holders: 64

A caller asked what the play for Palantir Technologies Inc. (NASDAQ:PLTR) is as other players move into its space. Cramer replied:

“Alright, Palantir. Don’t get in front of that swing on the short side. The, 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’s just, it blossoms each day. What a blast. The manipulation’s incredible but you know what, in the new regime, it’s just called solid buying.”

Palantir (NASDAQ:PLTR) develops software platforms focused on data integration and decision-making, serving government, intelligence, and commercial clients. Its products, including Gotham, Foundry, Apollo, and the Artificial Intelligence Platform, help organizations manage and analyze large datasets. On March 5, William Blair upgraded the stock from Underperform to Market Perform, citing valuation after a 33% drop in shares from $125 to $84 in the last three weeks due to a “DOGE-driven selloff.”

While the firm’s valuation remains high, with risks of over 40% downside from potential delays in government contracts, the analyst noted some positive developments. Blair suggested that if the market shifts back to a risk-on mode, the stock could return to its previous peak. However, the firm expects the shares to remain range-bound over the next year, with continued volatility due to various factors, including the potential for a government shutdown on March 15, which could exert additional downward pressure.