Palantir Technologies Inc. (PLTR) closed at $24.80 in the latest trading session, marking a +1.6% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.54%.
Coming into today, shares of the company had gained 14.93% in the past month. In that same time, the Business Services sector gained 3.6%, while the S&P 500 gained 1.91%.
PLTR will be looking to display strength as it nears its next earnings release.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.14 per share and revenue of $1.48 billion. These totals would mark changes of -26.32% and +35.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for PLTR. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PLTR currently has a Zacks Rank of #4 (Sell).
Digging into valuation, PLTR currently has a Forward P/E ratio of 174.36. For comparison, its industry has an average Forward P/E of 33.9, which means PLTR is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 222, putting it in the bottom 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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