Jim Cramer’s 5 Latest Stock Picks This Week

3. Palantir Technologies Inc (NYSE:PLTR)

Number of Hedge Fund Investors: 44

A caller recently asked Jim Cramer whether he should buy Palantir Technologies Inc (NYSE:PLTR) now or wait since the stock recently hit its 52-week high. Cramer said he believes the stock would go higher from here. Cramer highlighted Palantir Technologies Inc’s (NYSE:PLTR) latest $178.4 million contract win from the US Army.

As of the end of the fourth quarter of 2023, 44 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Palantir Technologies Inc (NYSE:PLTR). The most significant stake in Palantir Technologies Inc (NYSE:PLTR) is owned by D E Shaw which owns a $356 million stake in Palantir Technologies Inc (NYSE:PLTR).

Carillon Scout Mid Cap Fund made the following comment about Palantir Technologies Inc. (NYSE:PLTR) in its Q3 2023 investor letter:

Palantir Technologies Inc. (NYSE:PLTR)’s stock moved higher on hopes that it could win business from the U.K.’s National Health Services and as customer counts grew rapidly in the latest quarterly report for the company’s new Artificial Intelligence Platform (AIP). Palantir also won a significant new contract with the U.S. Army in September, which should last through 2026. The debate on the street is how fast Palantir can monetize its new commercial customers. After the quarter closed, the company announced an enhanced marketing deal with a major auditing and consulting firm.”