What Happened?
Shares of data analytics company Palantir Technologies (NASDAQ: PLTR) jumped 3.5% in the afternoon session after prominent market commentator Jim Cramer reiterated his bullish stance and a $200 price target on the stock.
Cramer highlighted that the defense-oriented artificial intelligence software company has seen its stock rally on the back of "a series of very strong reports that vastly exceeded projections." According to Cramer, there has been a significant shift in the market, where a new group of investors is drawn to companies with compelling stories, like Palantir. He noted that these investors continue to buy such stocks long after the initial positive news, indicating sustained interest in the company's growth narrative.
The shares closed the day at $171.44, up 4.3% from previous close.
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What Is The Market Telling Us
Palantir Technologies’s shares are extremely volatile and have had 44 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock gained 2.9% on the news that the company announced a partnership with UK defense tech firm Hadean to bring simulation and AI products to the UK Armed Forces.
Under the new agreement, Hadean's wargaming, command and control, and battlefield training products will be deployed on Palantir's Foundry software, allowing for seamless integration with the existing Ministry of Defence data systems. This development adds to a backdrop of strong performance for the AI systems provider, which has seen soaring growth in both its government and commercial businesses. In its most recent quarter, Palantir's U.S. commercial revenue surged 93% year-over-year, while U.S. government revenue grew 53%. The company's Artificial Intelligence Platform (AIP) has been a key driver, helping customers integrate data to improve decision-making and fueling a significant increase in large contracts.
Palantir Technologies is up 128% since the beginning of the year, and at $171.28 per share, it is trading close to its 52-week high of $186.97 from August 2025. Investors who bought $1,000 worth of Palantir Technologies’s shares at the IPO in September 2020 would now be looking at an investment worth $18,029.
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