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.

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%.

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.

Read Next:

• Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash — Weeks Later, Markets Crashed. Coincidence?

Image Via Shutterstock

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