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Palantir Technologies Inc. (PLTR) Gains As Market Dips: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed the most recent trading day at $6.42, moving +0.31% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Heading into today, shares of the company had lost 18.58% over the past month, lagging the Business Services sector's loss of 1.51% and the S&P 500's loss of 2.59% 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 year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $505.95 million, up 16.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.04 per share and revenue of $1.9 billion, which would represent changes of -69.23% and +23.43%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 145.46. For comparison, its industry has an average Forward P/E of 23.79, which means Palantir Technologies Inc. is trading at a premium to the group.
Also, we should mention that PLTR has a PEG ratio of 5.16. 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. PLTR's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed the most recent trading day at $6.42, moving +0.31% from the previous trading session. This change outpaced the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.
Heading into today, shares of the company had lost 18.58% over the past month, lagging the Business Services sector's loss of 1.51% and the S&P 500's loss of 2.59% 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 year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $505.95 million, up 16.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.04 per share and revenue of $1.9 billion, which would represent changes of -69.23% and +23.43%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 145.46. For comparison, its industry has an average Forward P/E of 23.79, which means Palantir Technologies Inc. is trading at a premium to the group.
Also, we should mention that PLTR has a PEG ratio of 5.16. 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. PLTR's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.