Palantir Technologies Inc. (NYSE:PLTR) shares surged in after-hours trading on Monday following the company’s report of fourth-quarter profit results in line with expectations and revenue exceeding estimates. Additionally, the full-year revenue guidance was consistent with expectations. CEO Alex Karp‘s remarks during theearnings callgarnered praise, notably from CNBC’s Mad Money host Jim Cramer.
What Happened: Cramer expressed his approval in a post on X, stating, “Very few CEOs on conference calls–at least– talk about self-pleasuring and admitting that they are crazy, but I have to admit Karp’s insanity is growing on me and the Palantir narrative is compelling…”
Cramer had previously endorsed the data analytics software provider, particularly after the release of the third-quarter results in November, where he remarked, “That was a dynamite quarter, we got an upgrade today… I disliked these guys for a long time, not anymore… I am on the Palantir team.” He further supported Palantir in an early October episode of the lightning round segment, where he typically offers quick stock recommendations.
See Also: Best Artificial Intelligence Stocks
Why It’s Important: Palantir’s focus on artificial intelligence, particularly with its in-house AIP platform, has garnered significant attention and support.
Analyst Daniel Ives from Wedbush, for instance, expressed bullish sentiments, highlighting the potential of AI and the commercial business, stating, “For the ‘Messi of AI,’ Palantir it’s all about AI and the commercial business looking ahead. Robust commercial 24 guide in line with our thesis as AI use cases exploding and AIP front and center.”
CEO Karp emphasized the company’s AI opportunities, declaring, “AIP is the future of our company, and we believe that it will become the dominant platform for the entire industry.” During theearnings call Karp highlighted the U.S. Commercial segment’s impressive 70% year-over-year growth, attributing it to enhanced product usability and market accessibility driven by AI advancements.
With Palantir’s fourth consecutive quarter of GAAP profitability, it becomes eligible for S&P 500 Index inclusion, according to CNBC.
Despite the positive sentiment, some remain cautious, citing concerns over the…
Click Here to Read the Full Original Article at Cryptocurrencies Feed…
