Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know
Palantir Technologies Inc. (PLTR) closed the most recent trading day at $15.46, moving +0.85% from the previous trading session. This change outpaced the S&P 500's 0.07% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 0.01%.
Coming into today, shares of the company had gained 6.46% in the past month. In that same time, the Business Services sector gained 0.59%, while the S&P 500 gained 0.38%.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.06 per share, which would represent year-over-year growth of 500%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $555.02 million, up 16.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.23 per share and revenue of $2.22 billion. These totals would mark changes of +283.33% and +16.25%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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 4.26% higher. Palantir Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 67.49. For comparison, its industry has an average Forward P/E of 23.84, which means Palantir Technologies Inc. is trading at a premium to the group.
Investors should also note that PLTR has a PEG ratio of 1.19 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Palantir Technologies Inc. (PLTR): Free Stock Analysis Report