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Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $18.53, marking a +1.76% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Prior to today's trading, shares of the company had lost 4.06% over the past month. This has lagged the Business Services sector's gain of 4.47% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 57.14%. Meanwhile, our latest consensus estimate is calling for revenue of $418.1 million, up 29.81% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Palantir Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 124.16. This represents a premium compared to its industry's average Forward P/E of 28.04.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $18.53, marking a +1.76% move from the previous day. This change outpaced the S&P 500's 0.64% gain on the day. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.46%.
Prior to today's trading, shares of the company had lost 4.06% over the past month. This has lagged the Business Services sector's gain of 4.47% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.03 per share, which would represent a year-over-year decline of 57.14%. Meanwhile, our latest consensus estimate is calling for revenue of $418.1 million, up 29.81% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Palantir Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 124.16. This represents a premium compared to its industry's average Forward P/E of 28.04.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 177, which puts it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.