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Palantir Technologies Inc. (PLTR) Flat As Market Sinks: What You Should Know
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $7.74, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the company had lost 3.25% over the past month, lagging the Business Services sector's loss of 0.78% and the S&P 500's gain of 2.61% 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, our latest consensus estimate is calling for revenue of $504.84 million, up 13.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.20 per share and revenue of $2.2 billion, which would represent changes of +233.33% and +15.51%, respectively, from the prior year.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 6.67% higher. Palantir Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 38.7 right now. For comparison, its industry has an average Forward P/E of 20.16, which means Palantir Technologies Inc. is trading at a premium to the group.
It is also worth noting that PLTR currently has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Technology Services industry currently had an average PEG ratio of 1.62 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 152, which puts it in the bottom 40% 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) Flat As Market Sinks: What You Should Know
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $7.74, marking no change from the previous day. This move was narrower than the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the company had lost 3.25% over the past month, lagging the Business Services sector's loss of 0.78% and the S&P 500's gain of 2.61% 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, our latest consensus estimate is calling for revenue of $504.84 million, up 13.1% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.20 per share and revenue of $2.2 billion, which would represent changes of +233.33% and +15.51%, respectively, from the prior year.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 6.67% higher. Palantir Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 38.7 right now. For comparison, its industry has an average Forward P/E of 20.16, which means Palantir Technologies Inc. is trading at a premium to the group.
It is also worth noting that PLTR currently has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Technology Services industry currently had an average PEG ratio of 1.62 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 152, which puts it in the bottom 40% 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.