In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $15.59, marking a -1.27% move from the previous day. This move lagged the S&P 500's daily loss of 0.57%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq lost 1.04%.
Heading into today, shares of the company had gained 0.45% over the past month, lagging the Business Services sector's gain of 1.18% and the S&P 500's gain of 0.64% in that time.
Wall Street will be looking for positivity from Palantir Technologies Inc. as it approaches its next earnings report date. 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.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.23 per share and revenue of $2.22 billion. These results would represent year-over-year changes of +283.33% and +16.25%, respectively.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 4.26% higher within the past month. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 69.52. This valuation marks a premium compared to its industry's average Forward P/E of 24.43.
It is also worth noting that PLTR currently has a PEG ratio of 1.22. 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. Technology Services stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% 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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Palantir Technologies Inc. (PLTR): Free Stock Analysis Report