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Here's Why Palantir Technologies Inc. (PLTR) Fell More Than Broader Market
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Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $25.56, indicating a -1.01% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
Heading into today, shares of the company had gained 21.97% over the past month, outpacing the Business Services sector's loss of 0.21% and the S&P 500's gain of 3.59% in that time.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $0.08, marking a 60% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $652.29 million, indicating a 22.31% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.33 per share and a revenue of $2.7 billion, indicating changes of +32% and +21.55%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 78.54. This expresses a premium compared to the average Forward P/E of 21.17 of its industry.
It's also important to note that PLTR currently trades at a PEG ratio of 2.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why Palantir Technologies Inc. (PLTR) Fell More Than Broader Market
Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $25.56, indicating a -1.01% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq lost 0.79%.
Heading into today, shares of the company had gained 21.97% over the past month, outpacing the Business Services sector's loss of 0.21% and the S&P 500's gain of 3.59% in that time.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $0.08, marking a 60% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $652.29 million, indicating a 22.31% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.33 per share and a revenue of $2.7 billion, indicating changes of +32% and +21.55%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 78.54. This expresses a premium compared to the average Forward P/E of 21.17 of its industry.
It's also important to note that PLTR currently trades at a PEG ratio of 2.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 66, this industry ranks in the top 27% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.