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Palantir Technologies Inc. (PLTR) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2 min read
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In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $32.05, marking a +0.91% move from the previous day. The stock lagged the S&P 500's daily gain of 1.09%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 1.23%.

Wall Street will be looking for positivity from PLTR as it approaches its next earnings report date. This is expected to be February 16, 2021.

Any recent changes to analyst estimates for PLTR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.59% lower. PLTR is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, PLTR is holding a Forward P/E ratio of 235.26. Its industry sports an average Forward P/E of 32.97, so we one might conclude that PLTR is trading at a premium comparatively.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Click to get this free report Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report To read this article on Zacks.com click here.