Palantir Stock: NASDAQ 100 Inclusion Likely as Value Soars

Palantir Technologies is poised for a significant milestone as it emerges as the leading candidate for inclusion in the prestigious NASDAQ 100 index during the December 13, 2024 rebalancing. The technology company, which recently transitioned from the NYSE to NASDAQ and secured a spot in the S&P 500 in September, boasts a remarkable market capitalization of $161.5 billion. This development has already sparked investor interest, with the stock climbing to $72.51, marking a 2.29% increase. The company's performance in 2024 has been particularly impressive, with shares surging more than 312% since the beginning of the year.

Analysts Express Mixed Sentiment

Market experts remain divided on Palantir's outlook, despite its strong performance and potential index inclusion. Among 15 analysts covering the stock, only two recommend buying, while seven maintain a neutral stance, and six advise selling. The current stock price trades approximately 45% above the average analyst price target. Historical data suggests that companies typically experience an average 17% price appreciation in the twelve months following their NASDAQ 100 inclusion, adding an interesting dimension to the stock's prospects.