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Palantir Technologies Inc. (PLTR) Gains But Lags Market: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed the most recent trading day at $6.40, moving +1.27% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the company had lost 11.24% over the past month. This has lagged the Business Services sector's loss of 3.62% and the S&P 500's loss of 4.61% 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%. Our most recent consensus estimate is calling for quarterly revenue of $505.95 million, up 16.88% from the year-ago period.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 41.22. This valuation marks a premium compared to its industry's average Forward P/E of 20.19.
Also, we should mention that PLTR has a PEG ratio of 1.46. 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 1.98 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 98, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Gains But Lags Market: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed the most recent trading day at $6.40, moving +1.27% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the company had lost 11.24% over the past month. This has lagged the Business Services sector's loss of 3.62% and the S&P 500's loss of 4.61% 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%. Our most recent consensus estimate is calling for quarterly revenue of $505.95 million, up 16.88% from the year-ago period.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 41.22. This valuation marks a premium compared to its industry's average Forward P/E of 20.19.
Also, we should mention that PLTR has a PEG ratio of 1.46. 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 1.98 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 98, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.