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Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know

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Palantir Technologies Inc. (PLTR) closed at $26.12 in the latest trading session, marking a +0.77% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.65%.

Heading into today, shares of the company had gained 11.68% over the past month, outpacing the Business Services sector's gain of 2.57% and the S&P 500's gain of 6.38% in that time.

PLTR will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2021. In that report, analysts expect PLTR to post earnings of $0.04 per share. This would mark a year-over-year decline of 55.56%. Our most recent consensus estimate is calling for quarterly revenue of $385.01 million, up 33.05% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.16 per share and revenue of $1.5 billion. These totals would mark changes of -15.79% and +37.48%, respectively, from last year.

Any recent changes to analyst estimates for PLTR should also be noted by investors. Recent revisions tend to reflect the latest near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PLTR is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, PLTR currently has a Forward P/E ratio of 167.23. This represents a premium compared to its industry's average Forward P/E of 31.08.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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