Jim Cramer Predicts Palantir to Reach $200 with MongoDB's Momentum

Jim Cramer believes Palantir Technologies Inc. (PLTR) will benefit from MongoDB Inc.'s (MDB) earnings momentum, predicting a 24% upside target for Palantir. He draws parallels between the two companies' data management solutions and expects Palantir to rise with MongoDB. Cramer's price target for Palantir is $200 per share, up from its current level of $160.87.

Television host Jim Cramer has reiterated his bullish stance on Palantir Technologies Inc. (PLTR), predicting that the stock could benefit from MongoDB Inc. (MDB)'s recent earnings momentum. In a post on X, Cramer suggested that MongoDB's strong performance could spill over into Palantir, framing the software company as a potential beneficiary in the data and AI sector. "You know they are going to buy Palantir off of MongoDB," he said [1].

Cramer drew parallels between Palantir's Ontology platform, which is used for organizing enterprise data, and MongoDB, which is a database management solution. The strong demand and momentum seen with MongoDB could very well be reflected in the performance of Palantir, leading both stocks to move in tandem [2].

Following MongoDB's second-quarter results on Tuesday, when the company beat consensus estimates on revenue and earnings, while raising its guidance for the rest of the year, the stock rallied 30.51% in after-hours trading. This significant performance boost has led Cramer to predict a 24% upside target for Palantir, setting a price target of $200 per share [1].

However, shares of Palantir have been under pressure over the past week, with the stock dropping from its 52-week high of $189.46 early this month to $160.87. This comes after Citron Research’s Andrew Left announced a short position against the company, saying that the stock was "beyond overvalued." Comparing the company to OpenAI, which is valued at 17 times sales, is already "extreme" according to Left. Palantir at $40 a share, or 70% below its current levels, "would still be expensive," he says [2].

Palantir shares were up 1.89% on Tuesday, closing at $160.87, and are 0.62% after hours. The stock scores high on Momentum, Growth and Value, with a favorable price trend in the short, medium and long terms [2].

References:

[1] https://www.inkl.com/news/jim-cramer-sees-palantir-riding-mongodb-s-momentum-sets-bold-24-upside-target-says-bears-didn-t-see-mongo-coming

[2] https://www.benzinga.com/markets/large-cap/25/08/47351464/jim-cramer-sees-palantir-riding-mongodbs-momentum-sets-bold-24-upside-target-says-bears-didnt-see-mongo-coming