Jim Cramer Says Palantir Is Not the Next Tesla
Palantir (PLTR) got a downgrade from Credit Suisse to underperform. However, that doesn't stop Reddit from focusing on this stock.
Analyst Brad Zelnick said in a note to investors, which was titled "Well Ahead of Itself" that he sees "valuation disconnected from fundamentals with the stock now trading over 50% above our previous blue sky scenario."
"To be clear, we continue to believe Palantir offers a unique data analytics platform, helping organizations solve some of the most complex challenges in the world - including those related to the fight against Covid-19," Zelnick said.
Curious about what Jim Cramer and his team at Action Alerts PLUS are watching in the markets? Watch Cramer's exclusive members-only Daily Rundown show on Action Alerts PLUS following TheStreet Live.
WATCH: Everything Jim Cramer Is Watching in the Markets Friday
Latest Videos From TheStreet and Jim Cramer:
- Coronavirus: The Latest Numbers on the COVID-19 Pandemic
- Streaming Isn't Enough to Make Jim Cramer Buy AT&T Stock
- What Stimulus Checks Do and Don’t Mean For Your Taxes
- Time Is Right for Airbnb, DoorDash IPOs, Asset Manager Says
- Drivers of Disruption and Innovation in the PPE Space
- Why Jim Cramer Is Confident on a Vaccine Rollout
- Jim Cramer: How to Balance Stay-At-Home and Return to Normal Plays