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
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.
-
RMD Deadline April 1: Five Tax Strategies to Manage Your 2025 Income
Taxable Income The April 1, 2025, deadline for required minimum distributions (RMDs) is fast approaching for retirees who turned 73 in 2024.
By Kelley R. Taylor Published
-
Rising AI Demand Stokes Undersea Investments
The Kiplinger Letter As demand soars for AI, there’s a need to transport huge amounts of data across oceans. Tech giants have big plans for new submarine cables, including the longest ever.
By John Miley Published
-
How Much Does Being Rich Matter in Retirement?
After a certain point, having more money in retirement won't make you any happier, new research shows. Instead, physical health, a sense of purpose, and a minimal amount of non-mortgage debt are more relevant.
By Christy Bieber Published
-
The Three Biggest Fears Keeping Retirees Up at Night
Here are the steps you can take to put those fears to rest and retire with confidence so you can relax and enjoy the life you've planned.
By Pam Krueger Published
-
What Can a Donor-Advised Fund Do for You? (A Lot)
DAFs and private foundations go about helping charities (and those who donate) in different ways. Each comes with its own benefits and restrictions to navigate.
By Julia Chu Published
-
Estate Planning When You Have International Assets
Estate planning gets tricky when you have assets and/or beneficiaries outside the U.S. To avoid costly inheritance mistakes, it pays to understand the basics.
By Kelsey M. Simasko, Esq. Published
-
Microsoft Stock: Innovation Spurs Its 100,000% Return
Microsoft's ability to recognize the "next big thing" has allowed sales – and its share price – to grow exponentially over the years.
By Louis Navellier Published
-
Three Essential Estate Planning Steps to Protect Your Nest Egg
After dedicating years to building your wealth and securing your future, make sure your assets are protected and your loved ones are provided for in the future.
By Nicole Farbo, CFP® Published
-
Is Chasing the American Dream Ruining Your Financial Life?
Too many people focus on visible affluence as a marker of success. Here's how to avoid succumbing to the pressure and driving yourself into debt.
By Anthony Martin Published
-
Stock Market Today: Dow Sinks 715 Points as Inflation Unrest Grows
Inflation worries are showing up in both hard and soft data.
By Karee Venema Published