Palantir: soon to be listed on the S&P 500 index, the stock shines

(CercleFinance.com) - Palantir will join the S&P 500 index as of Monday September 23, a major milestone for the predictive analytics specialist whose share price has already soared 95% this year.


With Monday's gain of more than 10%, the market capitalization of the developer of software for digital transformation and data management now exceeds $75 billion.

S&P Dow Jones Indices announced on Friday evening that Palantir would be joining the benchmark index of US fund managers, alongside Dell and Erie Indemnity, replacing American Airlines, Etsy and Bio-Rad.

According to analysts at Wedbush Securities, this entry into the S&P index will mark a pivotal moment for the company, enabling it to open a new chapter in its growth.

This is an announcement that investors in Palantir have been eagerly awaiting for over a year, against the backdrop of the company's improving profitability", points out Dan Ives, the analyst in charge of technology stocks at the US brokerage.

"We believe that many of the most skeptical investors have underestimated the company's ability to turn a profit and generate cash on the strength of its AI (AIP) and enterprise offerings", adds the specialist.

Wedbush is therefore maintaining its 'outperform' rating on the stock, with a price target of $38.

Palantir Technologies announced this morning that it has entered into a strategic partnership with British energy giant bp to provide new AI-related functionalities.

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