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Palantir Technologies Inc. (PLTR) Flat As Market Gains: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $28.67 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
The company's stock has climbed by 14.59% in the past month, exceeding the Business Services sector's gain of 2.71% and the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. On that day, Palantir Technologies Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 60%. Simultaneously, our latest consensus estimate expects the revenue to be $652.29 million, showing a 22.31% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.33 per share and revenue of $2.7 billion, indicating changes of +32% and +21.55%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Palantir Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 87.21. This signifies a premium in comparison to the average Forward P/E of 23.15 for its industry.
It is also worth noting that PLTR currently has a PEG ratio of 3.25. 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 1.48 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 104, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
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 Gains: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $28.67 in the latest trading session, marking no change from the prior day. This move lagged the S&P 500's daily gain of 0.64%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq gained 0.2%.
The company's stock has climbed by 14.59% in the past month, exceeding the Business Services sector's gain of 2.71% and the S&P 500's gain of 3.82%.
Investors will be eagerly watching for the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 5, 2024. On that day, Palantir Technologies Inc. is projected to report earnings of $0.08 per share, which would represent year-over-year growth of 60%. Simultaneously, our latest consensus estimate expects the revenue to be $652.29 million, showing a 22.31% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.33 per share and revenue of $2.7 billion, indicating changes of +32% and +21.55%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Palantir Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 87.21. This signifies a premium in comparison to the average Forward P/E of 23.15 for its industry.
It is also worth noting that PLTR currently has a PEG ratio of 3.25. 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 1.48 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 104, this industry ranks in the top 42% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.