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Palantir Technologies Inc. (PLTR) Dips More Than Broader Markets: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $8.57 in the latest trading session, marking a -1.04% move from the prior day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the company had gained 13.5% in the past month. In that same time, the Business Services sector gained 1.47%, while the S&P 500 gained 4.58%.
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. In that report, analysts expect Palantir Technologies Inc. to post earnings of $0.02 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $474.58 million, up 21.02% from the year-ago period.
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.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 152.82. Its industry sports an average Forward P/E of 22.26, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
It is also worth noting that PLTR currently has a PEG ratio of 4.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.08 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 132, which puts it in the bottom 48% 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) Dips More Than Broader Markets: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $8.57 in the latest trading session, marking a -1.04% move from the prior day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the company had gained 13.5% in the past month. In that same time, the Business Services sector gained 1.47%, while the S&P 500 gained 4.58%.
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. In that report, analysts expect Palantir Technologies Inc. to post earnings of $0.02 per share. This would mark a year-over-year decline of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $474.58 million, up 21.02% from the year-ago period.
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.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 152.82. Its industry sports an average Forward P/E of 22.26, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
It is also worth noting that PLTR currently has a PEG ratio of 4.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.08 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 132, which puts it in the bottom 48% 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.