Meet the Newest Addition to the S&P 500. The Stock Has Soared 845% Since Early Last Year, and It's Still a Buy Right Now, According to 1 Wall Street Analyst.

The S&P 500 (SNPINDEX: ^GSPC) is regarded by many as the best overall gauge of the U.S. stock market, as it includes the 500 largest publicly traded companies in the country. Given the breadth of businesses that make up the index, it is considered to be the most reliable benchmark of overall stock market performance. To be considered for admission to the S&P 500, a company must meet the following criteria:Palantir Technologies (NYSE: PLTR) is one of the most recent additions to the S&P 500, joining the benchmark on Sept. 23. That makes it one of only 11 companies to make the cut so far this year. Since the dawn of generative AI early last year, Palantir stock has surged 845%, as its expertise in the field drove robust revenue and earnings growth.Given the stock's parabolic move higher, some investors are leery of Palantir's lofty valuation. However, one Wall Street analyst believes this is just the beginning. Let's take a look at what has fueled Palantir's epic run, and if there's additional runway ahead for growth.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool