In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $8.08, marking a +1.76% move from the previous day. This move outpaced the S&P 500's daily loss of 2.11%. Elsewhere, the Dow lost 1.54%, while the tech-heavy Nasdaq lost 0.3%.
Heading into today, shares of the company had gained 2.85% over the past month, outpacing the Business Services sector's loss of 11.24% and the S&P 500's loss of 8.19% in that time.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Palantir Technologies Inc. to post earnings of $0.02 per share. This would mark a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $474.58 million, up 21.02% from the prior-year quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -53.85% and +23.3%, respectively.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Palantir Technologies Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 140.12 right now. This represents a premium compared to its industry's average Forward P/E of 23.16.
Investors should also note that PLTR has a PEG ratio of 4.53 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. PLTR's industry had an average PEG ratio of 1.82 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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