Jim Cramer Sees Palantir Riding MongoDB's Momentum: Sets Bold 24% Upside Target — Says 'Bears Didn't See Mongo Coming!'

Television host Jim Cramer is once again reiterating his bullish stance on Palantir Technologies Inc. PLTR, tying the stock’s potential and his latest price target to the recent surge in MongoDB Inc. MDB.‘Bears Didn’t See Mongo Coming’On Tuesday, in a post on X, the host of CNBC’s Mad Money suggested that MongoDB's earnings momentum could spill over into Palantir, framing the software company as the next big beneficiary in the data and AI sector. “You know they are going to buy Palantir off of MongoDB,” he said.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 the latter could very well be reflected in the performance of the former, leading both stocks to move in tandem. 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. Once again emphasizing the impact of MongoDB’s earnings beat on Palantir, Cramer says, “Bears didn’t see Mongo coming!” He also reiterated his price target for Palantir at $200 a share, around 24% upside from current levels. “You think this stock isn’t headed to $200 anymore? Think again.”Palantir Facing Selling PressureShares 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.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. Click here to see how Palantir compares with MongoDB, along with other peers and competitors. Palantir CEO Alex Karp Dumps $63 Million In Stock As PLTR Surges 111% This Year Photo Courtesy: Dennis Diatel on Shutterstock