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Palantir Technologies Inc. (PLTR) Stock Moves -0.4%: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $7.56 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the company had lost 9.1% in the past month. In that same time, the Business Services sector lost 1.44%, while the S&P 500 gained 0.39%.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release, which 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.20 per share and revenue of $2.2 billion. These totals would mark changes of +233.33% and +15.51%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 37.95 right now. For comparison, its industry has an average Forward P/E of 20.75, which means Palantir Technologies Inc. is trading at a premium to the group.
We can also see that PLTR currently has a PEG ratio of 0.69. 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 1.72 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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.
To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.
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Palantir Technologies Inc. (PLTR) Stock Moves -0.4%: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $7.56 in the latest trading session, marking a -0.4% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 1.82%.
Coming into today, shares of the company had lost 9.1% in the past month. In that same time, the Business Services sector lost 1.44%, while the S&P 500 gained 0.39%.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release, which 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.20 per share and revenue of $2.2 billion. These totals would mark changes of +233.33% and +15.51%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 37.95 right now. For comparison, its industry has an average Forward P/E of 20.75, which means Palantir Technologies Inc. is trading at a premium to the group.
We can also see that PLTR currently has a PEG ratio of 0.69. 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 1.72 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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.
To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.