Palantir Technologies Inc. (PLTR) Stock Dips While Market Gains: Key Facts
In the latest market close, Palantir Technologies Inc. (PLTR) reached $27.39, with a -1.12% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow saw a downswing of 0.13%, while the tech-heavy Nasdaq appreciated by 0.14%.
The the stock of company has risen by 19.76% in the past month, leading the Business Services sector's gain of 0.64% and the S&P 500's gain of 4.34%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company is expected to report EPS of $0.08, up 60% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $652.29 million, up 22.31% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.33 per share and a revenue of $2.7 billion, indicating changes of +32% and +21.55%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 84.26. For comparison, its industry has an average Forward P/E of 22.21, which means Palantir Technologies Inc. is trading at a premium to the group.
It's also important to note that PLTR currently trades at a PEG ratio of 3.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Technology Services stocks are, on average, holding a PEG ratio of 1.43 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 84, positioning it in the top 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
