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Palantir Technologies Inc. (PLTR) Stock Moves -1.35%: What You Should Know

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Zacks Equity Research
·2 min read
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Palantir Technologies Inc. (PLTR) closed at $35.18 in the latest trading session, marking a -1.35% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.93%. At the same time, the Dow lost 2.03%, and the tech-heavy Nasdaq lost 2%.

Heading into today, shares of the company had gained 55.38% over the past month, outpacing the Business Services sector's loss of 4.68% and the S&P 500's gain of 1.48% in that time.

PLTR will be looking to display strength as it nears its next earnings release.

Investors should also note any 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.

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.

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 has moved 20.59% lower. PLTR is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, PLTR is currently trading at a Forward P/E ratio of 288.89. This valuation marks a premium compared to its industry's average Forward P/E of 32.35.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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