With a good deal of tariff fear priced in, markets are up on the day.
At the moment, the Dow is up about 85 points. The NASDAQ is up about 61, with the S&P 500 holding on to a 19-point gain. All as tariff fears begin to ease, at least temporarily. It’s also been a good day for booming stocks, such as Netflix, Palantir and CrowdStrike.
In fact, here’s what’s driving each of those stocks higher on the day.
Netflix
Up about 5%, or $50, Netflix (NASDAQ: NFLX | NFLX Price Prediction) is running ahead of Thursday earnings.
Plus, according to The Wall Street Journal, Netflix is aiming for a $1 trillion valuation and a doubling of revenue by 2030.
In addition, “Amid recent market volatility, Netflix’s strong subscription model with critical entertainment (which historically has performed well in a recession) has made the stock a defensive choice for investors and driven outperformance versus other technology/Mag 7 companies,” BofA Securities analyst Jessica Reif Ehrlich said, as quoted by Barron’s.
Palantir
Up about $4, Palantir (NYSE: PLTR) is still soaring after NATO announced it acquired “customized state of the art AI capabilities” from the company. While details of the deal weren’t shared, NATO said it would begin using Palantir’s Maven Smart System. NATO in the next 30 days.
Even better, Wedbush analyst Daniel Ives reiterated his outperform rating on the PLTR stock with a price target of $120.
“Ives highlighted that the NATO deal was a big win for Palantir and its CEO, Alex Karp, as more countries look for AI tools to strengthen their military systems. He said that government agencies are now turning to Palantir, which is known for its data and AI software, to help improve defense work and manage very sensitive information,” as noted by TipRanks.com.
The firm also sees Palantir as one of the top names to own this year.
CrowdStrike
Shares of CrowdStrike (NASDAQ: CRWD) are up by another $16 today.
The stock has been soaring for days now. In fact, since catching support at $300, it’s now back to $393.88. If it can break above resistance here, it could potentially retest $460.
Helping, management is forecasting $10 billion in annual recurring revenue (ARR) by 2031, up from about $3.9 billion today. However, given the demand for identity protection and cloud security, the company could easily surpass current expectations.
Plus, late last month, analysts at BTIG upgraded CRWD to a buy rating with a price target of $431. The firm believes CRWD is the “cleanest platform play across the security software space,” as noted by Seeking Alpha.
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