Palantir, MicroStrategy, Axon to Join the Nasdaq-100: What to Know
The Nasdaq-100 is getting three new members this month. Here's what analysts think of Palantir, MicroStrategy and Axon.


Palantir Technologies (PLTR), MicroStrategy (MSTR) and Axon Enterprise (AXON) will join the Nasdaq-100 next week, replacing Super Micro Computer (SMCI), Illumina (ILMN) and Moderna (MRNA).
Shares of the incoming trio are having mixed reactions to the announcement. MicroStrategy is in the lead, up 4% at last check, as inclusion in the Nasdaq-100 often boosts stocks due to demand from index-tracking funds, including the ever-popular Invesco QQQ Trust (QQQ). MicroStrategy stock is also benefiting from bitcoin's new record high of $106,000 over the weekend.
The rebalance of the Nasdaq-100 index will occur ahead of the market open on Monday, December 23.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
What Wall Street thinks about Palantir, MicroStrategy and Axon
Palantir, a tech company that specializes in big data analytics, has been one of the market's best-performing stocks in 2024 with a return of more than 340% in the year to date.
However, Wall Street thinks the tech stock has gotten ahead of itself as the consensus recommendation among the 20 covering analysts S&P Global Market Intelligence tracks is a Hold. Additionally, analysts' average target price for PLTR stock is $41.77, representing a discount of more than 40% to current levels.
But not everyone is on the sidelines when it comes to Palantir. Financial services firm Wedbush is one of the most bullish firms on PLTR with an Outperform rating (equivalent to a Buy) and a $75 price target.
"We are raising our price target on Palantir from $57 to $75, reflecting our increased confidence in the game-changing AIP strategy with use cases for artificial intelligence taking hold over the next 12-18 months," wrote Wedbush analyst Daniel Ives in a November 24 note. "The Messi of AI growth story will see unprecedented demand as more enterprises realize the value of PLTR's entire product suite with more AI use cases."
MicroStrategy, an enterprise software company that has become a bitcoin proxy due to its significant holdings in the cryptocurrency, has posted a jaw-dropping return of over 500% in the year to date.
Wall Street thinks the large-cap stock is going even higher from here with an average price target of $518.68, representing implied upside of about 24% to current levels. Additionally, the consensus recommendation is a Strong Buy.
Financial services firm Bernstein is the most bullish outfit on MSTR stock with an Outperforming rating (equivalent to a Buy) and a $2,890 price target.
"Since August 2020, MSTR has transformed from a small software company to the largest bitcoin holding company, owning 1.1% of world’s bitcoin supply worth roughly $14.5 billion," says Bernstein analyst Gautam Chhugani in a note this morning. "MSTR's founder chairman, Michael Saylor, has become synonymous with brand bitcoin and has positioned MSTR as a leading bitcoin company, attracting at-scale capital (both debt and equity) for an active bitcoin acquisition strategy."
Axon, a company that provides safety and security technology for law enforcement including tasers and body cameras, has risen more than 140% in the year to date, and Wall Street still rates it a Strong Buy. However, analysts' price targets have failed to keep up with the quick-rising growth stock as the average analyst estimate of $598.08 represents a discount of just over 3% to current levels.
Financial services firm Argus has a Buy rating and $800 price target on AXON stock.
"We expect AXON shares to continue to outpace the broader market, driven by the company's strong management team and robust earnings prospects as demand for its products and solutions remains strong," wrote Argus analyst John Staszak in a December 4 note. "We think that Axon can continue to generate positive earnings surprises based on its relatively cautious forecasts."
Related Content
- Analysts' Top S&P 500 Stocks to Buy Now
- Stocks Warren Buffett Is Buying and Selling
- All 30 Dow Jones Stocks Ranked: Buy, Sell or Hold?
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.
-
5 Low-Cost Ways to Protect Against Identity Theft
SPONSORED Stay ahead of identity thieves and maintain your peace of mind with these simple, affordable steps.
-
Upgrades to the CBP Entry Process Ahead of Peak Summer Travel Could Streamline U.S. Border Entry for Travelers
Enhanced processing could make international travel into the U.S. smoother and easier this summer.
-
A Financial Adviser's Defense of Annuities: They're Just Misunderstood
Annuities can offer retirement income stability and security against market volatility, though some do have drawbacks. The key is to understand their features before buying.
-
Diversification: An Investment Adviser's Guide to Why You Need It and How to Achieve It
How confident are you that your money will go the distance? Building a balanced portfolio can shore up your investments' long-term stability.
-
How My Dad Taught Me the Compounding Returns of Fatherhood
As Father's Day approaches, I remember how my father's small acts of love and generosity added up over time and influenced my relationships with my own children, proving that the best investments can grow across generations.
-
Stock Market Today: Stocks Lose Steam After CPI, US-China Trade Deal
Wall Street initially cheered soft inflation data and hopeful tariff news, but momentum stalled in late-day trading.
-
June Fed Meeting: Live Updates and Commentary
The June Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. have to say about interest rates and the economy.
-
May CPI Shows Tariffs Have Yet to Impact Inflation: What the Experts Say
The May CPI report shows that President Trump's whipsaw tariff policies have not had an outsized impact on inflation, but economists remain on guard.
-
Financial Professional's Key to Peace of Mind in Retirement: Income Planning
Creating guaranteed income sources in retirement will help you truly enjoy your golden years and spend less time worrying about money.
-
Don't Let a Market Crash Crush Your Retirement
It's a comfort to know that with the right strategies, you can weather just about anything a crazy stock market can throw at you.