Palantir’s stock has outperformed the S&P 500 by a wide margin in recent years, but Raymond James has concerns about the stock’s valuation.

Key Takeaways Dell and Palantir are set to join the S&P 500 on Monday as part of the index's quarterly rebalancing.Erie Indemnity also is joining the S&P 500. American Airlines Group, Etsy, and Bio-Rad Laboratories are being shifted to smaller indexes.

The Palantir Technologies logo is displayed on a shipping container at the companys booth during the ... [+] Consumer Electronics Show (CES) in Las Vegas, Nevada on January 5, 202

Shares of Palantir Technologies Inc. PLTR rallied 2.02% to $37.95 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.28% to 5,

Key Takeaways Palantir Technologies and Dell Technologies, along with Erie Indemnity, became members of the S&P 500 Index today.Palantir Technologies shares are trading at all-time highs.Dell's shares were lower in recent trading,