Jim Cramer’s 10 Stock Picks That Could Change Your Investment Game

8. Palantir Technologies Inc. (NYSE:PLTR)

Number of Hedge Fund Investors: 44

Jim Cramer described also Palantir Technologies Inc. (NYSE:PLTR) as a speculative and meme stock that gains momentum as individual investors keep buying in. He noted that it doesn’t function like a traditional stock; instead, it serves more as a measure of enthusiasm for a business that may or may not be performing well. Cramer expressed a desire for Palantir Technologies Inc. (NYSE:PLTR) to have more solid fundamentals behind it.

“Well, Palantir is a meme stock; it has momentum because individual investors keep piling into it. It’s not really even a stock in the traditional sense; it’s just a barometer of enthusiasm for some business that may or may not be doing well. I wish there were more to it.”

Palantir Technologies Inc. (NYSE:PLTR) has a strong positive outlook, supported by its impressive Q2 2024 earnings, which showed significant revenue growth driven by increased government and commercial contracts. Palantir Technologies Inc. (NYSE:PLTR) reported expanding profit margins and improved cash flow, indicating effective operations. As demand for data-driven decision-making grows, Palantir Technologies Inc. (NYSE:PLTR)’s advanced analytics platform is well-positioned to capture this expanding market, with applications in defense, healthcare, and finance.

The successful growth of its commercial client base helps reduce reliance on government contracts, boosting long-term growth potential. Palantir Technologies Inc. (NYSE:PLTR) is also innovating with recent improvements to its Foundry and Gotham platforms, which aim to enhance user experience and functionality, attracting new customers. Strategic partnerships with leading technology firms strengthen its capabilities in AI and machine learning, improving its competitive edge. Recent announcements about new contracts and innovative product launches have positively impacted investor sentiment, reinforcing a strong outlook for Palantir Technologies Inc. (NYSE:PLTR).