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Palantir Technologies Inc. (PLTR) Gains As Market Dips: What You Should Know
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $8.04, marking a +1.64% move from the previous day. This change outpaced the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the company had gained 2.86% over the past month. This has outpaced the Business Services sector's loss of 8.94% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Palantir Technologies Inc. as it approaches its next earnings report date. This is expected to be November 7, 2022. On that day, Palantir Technologies Inc. is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $474.58 million, up 21.02% from the prior-year quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -53.85% and +23.3%, respectively.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 139.59. Its industry sports an average Forward P/E of 22.41, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
Investors should also note that PLTR has a PEG ratio of 4.51 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. Technology Services stocks are, on average, holding a PEG ratio of 1.96 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 128, putting it in the top 50% 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.
To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.
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Palantir Technologies Inc. (PLTR) Gains As Market Dips: What You Should Know
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $8.04, marking a +1.64% move from the previous day. This change outpaced the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Prior to today's trading, shares of the company had gained 2.86% over the past month. This has outpaced the Business Services sector's loss of 8.94% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from Palantir Technologies Inc. as it approaches its next earnings report date. This is expected to be November 7, 2022. On that day, Palantir Technologies Inc. is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $474.58 million, up 21.02% from the prior-year quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.06 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -53.85% and +23.3%, respectively.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 139.59. Its industry sports an average Forward P/E of 22.41, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
Investors should also note that PLTR has a PEG ratio of 4.51 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. Technology Services stocks are, on average, holding a PEG ratio of 1.96 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 128, putting it in the top 50% 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.
To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.