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Palantir Technologies Inc. (PLTR) Stock Sinks As Market Gains: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $8.73 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the company had gained 8.91% over the past month, outpacing the Business Services sector's gain of 3.21% and the S&P 500's gain of 6.17% 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 May 8, 2023. The company is expected to report EPS of $0.04, up 100% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $504.84 million, up 13.1% from the year-ago period.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.20 per share and revenue of $2.2 billion. These results would represent year-over-year changes of +233.33% and +15.51%, respectively.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 10.35% higher. Palantir Technologies Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 44. For comparison, its industry has an average Forward P/E of 21.47, which means Palantir Technologies Inc. is trading at a premium to the group.
Meanwhile, PLTR's PEG ratio is currently 0.81. 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. PLTR's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Stock Sinks As Market Gains: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $8.73 in the latest trading session, marking a -0.8% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 2.51%.
Heading into today, shares of the company had gained 8.91% over the past month, outpacing the Business Services sector's gain of 3.21% and the S&P 500's gain of 6.17% 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 May 8, 2023. The company is expected to report EPS of $0.04, up 100% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $504.84 million, up 13.1% from the year-ago period.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.20 per share and revenue of $2.2 billion. These results would represent year-over-year changes of +233.33% and +15.51%, respectively.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 10.35% higher. Palantir Technologies Inc. currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 44. For comparison, its industry has an average Forward P/E of 21.47, which means Palantir Technologies Inc. is trading at a premium to the group.
Meanwhile, PLTR's PEG ratio is currently 0.81. 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. PLTR's industry had an average PEG ratio of 1.87 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 110, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.