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Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $16.74 in the latest trading session, marking a +0.9% move from the prior day. This move outpaced the S&P 500's daily gain of 0.85%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.
Coming into today, shares of the company had gained 4.27% in the past month. In that same time, the Business Services sector gained 2.81%, while the S&P 500 gained 3.18%.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $529.94 million, up 12.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.21 per share and revenue of $2.21 billion, which would represent changes of +250% and +15.76%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 79. For comparison, its industry has an average Forward P/E of 23.03, 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 1.39. 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 1.67 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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) Outpaces Stock Market Gains: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $16.74 in the latest trading session, marking a +0.9% move from the prior day. This move outpaced the S&P 500's daily gain of 0.85%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.
Coming into today, shares of the company had gained 4.27% in the past month. In that same time, the Business Services sector gained 2.81%, while the S&P 500 gained 3.18%.
Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $529.94 million, up 12.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.21 per share and revenue of $2.21 billion, which would represent changes of +250% and +15.76%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 79. For comparison, its industry has an average Forward P/E of 23.03, 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 1.39. 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 1.67 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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.