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Jim Cramer Stands by Bold Palantir Price Target - Here Is What to Watch

UBS and D.A. Davidson independently matched the same $250 number after AIPCon11

By Damilola Esebame, CFEI® , Edited by Laura Hohenstein

Updated Sept. 19, 2026

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CNBC Mad Money host Jim Cramer reaffirmed his $250 price target on Palantir Technologies (NASDAQ:PLTR) on September 17, calling the stock one of his highest-conviction positions. Palantir traded near $175, roughly 30% below the target, and two institutional analysts independently set the same $250 number after the company's AIPCon11 customer event.

The convergence between a television host and research desks at UBS and D.A. Davidson is unusual, and the Q2 results give you data to evaluate the call rather than take it on faith. Taking the time to check up on your financial health before holding a stock at 149 times trailing earnings is worth the effort, because the downside at this valuation leaves little room for a miss.

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Cramer reaffirmed his $250 Palantir target on September 17

Cramer posted his price target shortly after CEO Alex Karp appeared on CNBC to discuss enforceable AI guidelines, BeInCrypto detailed via Yahoo Finance. Shares had gained 6.4% over the preceding five sessions but still sat below the 52-week high of $207.52.

Cramer's calls carry a mixed track record, and the "Inverse Cramer" meme, where investors bet against his picks, has become a running joke in retail circles, the report acknowledged. The $250 call requires roughly 43% upside from $175.

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UBS and D.A. Davidson independently set $250 targets after AIPCon11

UBS analyst Karl Keirstead lifted his target from $220 to $250 on September 15, and D.A. Davidson's Gil Luria raised his from $200 to $250 four days earlier, the Yahoo Finance report confirmed. Both analysts pointed to demand for sovereign AI, a framework where governments and enterprises operate artificial intelligence on their own infrastructure rather than relying on outside cloud vendors.

AIPCon11 served as the catalyst for both raises, and Palantir also announced a partnership with Nvidia on supply chain software during the same period, TheStreet wrote. The Nvidia tie adds a concrete product dimension to the sovereignty thesis that separates it from general AI enthusiasm.

Q2 revenue surged 93% to $1.94 billion, with guidance raised to $8.16 billion

Palantir's Q2 results provided the quantitative base for the $250 thesis, CNBC confirmed. Key figures include the following.

Revenue of $1.94 billion, up 93% year over year and above the $1.80 billion consensus.
U.S. commercial revenue of $764 million, up 149%, the fastest-growing segment.
Full-year 2026 guidance raised from $8.15 billion to $8.16 billion, implying 82% annual growth.

CEO Karp described the quarter as "otherworldly" and committed to sustaining growth at U.S. commercial rates for the next 18 months. Net dollar retention hit 157%, meaning existing customers spent 57% more than a year earlier, and adjusted operating margin reached 62%. The results gave both Keirstead and Luria the data to anchor their targets in measurable bookings rather than broad AI optimism, which is why Cramer's convergence on the same number carries more weight than a standalone television prediction.

Wall Street's consensus target sits at $202, well below the $250 bull case

Across 23 analysts tracked by TipRanks, the average 12-month price target stands at $202.11, the Yahoo Finance report showed. Seventeen rate the stock a buy, four a hold, and two a sell, with the lowest target at $80 from Jefferies analyst Brent Thill.

The $170 spread between Thill's $80 and the $250 bull case illustrates how polarizing Palantir remains. For your portfolio, the consensus midpoint of $202 implies roughly 15% upside from the current $175.

Palantir trades at roughly 149 times trailing earnings

The trailing P/E ratio of approximately 149 has drawn repeated criticism, including from short seller Michael Burry, as flagged by Yahoo Finance analysis. The 52-week high of $207.52 sits 19% above the current price, meaning the stock has already retraced from a level where the multiple was even more elevated.

Bulls argue the multiple compresses quickly at 82% guided revenue growth, but that math requires Palantir to sustain a pace few software companies have maintained for more than two consecutive years. Retirees holding PLTR at this valuation are paying a premium that assumes flawless execution across both government and commercial segments.

Commercial bookings pace is the key metric to watch before Q3 earnings

All three $250 forecasters anchored their targets in commercial traction. Palantir closed 220 deals worth $1 million or more in Q2, with a record U.S. commercial total contract value of $2.13 billion, according to SEC filings.

The gap between Cramer's $250 and the consensus $202 narrows or widens based on whether that booking pace holds in Q3. Palantir's Rule of 40 score of 155% in Q2 demonstrates that growth and profitability are advancing together, a dynamic that could shift skeptics if it persists. A deceleration in commercial signings would challenge the thesis all three forecasters share, while sustained acceleration would validate the premium and potentially pull the consensus higher toward the bull case.

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Bottom line

Cramer's $250 target gained credibility when UBS and D.A. Davidson independently matched it, grounding the call in sovereign AI demand and Q2 results showing 93% revenue growth and 149% U.S. commercial acceleration. The consensus at $202 reflects a broader Wall Street view that values the growth but discounts its sustainability.

Exploring must-have investing apps to track Palantir's quarterly commercial bookings and contract value could help you decide whether the $250 thesis plays out or whether the 149 times trailing earnings multiple is pricing in more growth than even an "otherworldly" quarter supports. The next data point lands with Q3 results, and that report separates the bull case from the meme.

This article is for informational purposes only and should not be considered investment advice.

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