Palantir Joins S&P 100 After AI-Driven Rally, Stock Surges Almost 60% Since Trump Victory

Palantir Technologies Inc. (NASDAQ:PLTR) will join the S&P 100 index, S&P Dow Jones Indices announced Friday, as the data analytics firm continues its remarkable post-election rally.

What Happened: “Palantir is proud to be admitted into the S&P 100. Onwards,” the company stated Sunday on X.

The Denver-based company will replace Dow Inc. (NYSE:DOW) in the index effective Mar. 24, coinciding with the quarterly rebalance. Intuitive Surgical Inc. (NASDAQ:ISRG) and ServiceNow Inc. (NYSE:NOW) will also join the S&P 100, replacing The Kraft Heinz Company (NASDAQ:KHC) and Ford Motor Co. (NYSE:F).

Palantir has emerged as the top-performing S&P 500 stock since President Donald Trump‘s November election victory, surging nearly 60% to $84.82. This represents an annualized return exceeding 184%, according to Benzinga Pro data.

Market analysts attribute Palantir’s meteoric rise to its artificial intelligence capabilities and CEO Alex Karp‘s support for government efficiency initiatives.

See Also: Stock Futures Drop As ‘Reverse Trump Trade’ Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue’ And Will Likely Continue For A Decade

Why It Matters: Recent analyst assessments present a mixed outlook. While the consensus price target stands at $70.30 among 25 analysts, the three most recent ratings from Wedbush, Loop Capital, and Citigroup average $123.67, implying a potential upside of nearly 46%.

Other significant S&P index changes announced include DoorDash Inc. (NASDAQ:DASH) joining the S&P 500, while FMC Corp. (NYSE:FMC) and Celanese Corp. (NYSE:CE) — among the worst performers since Trump’s election — will be moved to the S&P SmallCap 600.

Price Action: Palantir closed at $84.90 on Friday, up 5.52% for the day, before dipping 0.09% to $84.82 in after-hours trading. Year to date, the stock has gained 12.92%, while it has surged 234.92% over the past year. Although the stock is down 38% from its all-time high of $124.62 reached on Feb. 18, according to data from Benzinga Pro.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.