Mad Money Jim Cramer Sees 40% Upside for Palantir Stock. Does Wall Street Agree?

Famous CNBC Mad Money host Jim Cramer reaffirmed his $250 price target on Palantir stock (PLTR) on Thursday. Cramer’s price calls are often a complete hit or miss. “Inverse Cramer” is a popular meme, where investors believe the opposite of his prediction is likely to happen. 

Palantir stock currently trades near $175, roughly 43% below the predicted target. So, the big question is, does Wall Street back Cramer’s forecast?

What Are Other Analysts Predicting About Palantir Stock?

• UBS analyst Karl Keirstead lifted his target from $220 to $250 on September 15. 
• D.A. Davidson’s Gil Luria made the same move from $200 four days earlier.

Both pointed to demand for sovereign AI. That means AI systems that governments run on their own infrastructure rather than an outside vendor’s cloud.

Both analysts increased their price targets after AIPCon11, the company’s customer showcase. Palantir has also struck a fresh tie-up with Nvidia on supply chain software.

The raises followed Q2 results in which Palantir beat Wall Street estimates. Revenue reached $1.94 billion, up 93% from a year earlier.

Most of Wall Street is Still Less Bullish

The consensus is more cautious. Across 23 analysts tracked by TipRanks, the average 12-month target stands at $202.11.

Seventeen rate the stock a buy, four a hold, and two a sell. The lowest target on the board is $80, under half the current price.

Palantir trades at roughly 149 times trailing earnings. That valuation has drawn repeated criticism, including from short seller Michael Burry.

Karp appeared on CNBC the same morning, calling for enforceable guidelines on artificial intelligence. Cramer posted his target shortly afterward.

Shares have added 6.4% over five days, yet they still sit below the 52-week high of $207.52. Closing the $74 gap to Cramer’s target now rests on commercial bookings holding their pace.

The post Mad Money Jim Cramer Sees 40% Upside for Palantir Stock. Does Wall Street Agree? appeared first on BeInCrypto.