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Palantir Technologies Inc. (PLTR) Stock Declines While Market Improves: Some Information for Investors
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Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $27.08, indicating a -0.37% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
The the stock of company has risen by 7.3% in the past month, leading the Business Services sector's loss of 0.96% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. The company's upcoming EPS is projected at $0.08, signifying a 60% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $652.29 million, indicating a 22.31% growth compared to the corresponding quarter of the prior 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 might also notice recent changes to analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Palantir Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 82.68. This signifies a premium in comparison to the average Forward P/E of 23.5 for its industry.
Also, we should mention that PLTR has a PEG ratio of 3.08. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.51.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Palantir Technologies Inc. (PLTR) Stock Declines While Market Improves: Some Information for Investors
Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $27.08, indicating a -0.37% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
The the stock of company has risen by 7.3% in the past month, leading the Business Services sector's loss of 0.96% and the S&P 500's loss of 0.21%.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on August 5, 2024. The company's upcoming EPS is projected at $0.08, signifying a 60% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $652.29 million, indicating a 22.31% growth compared to the corresponding quarter of the prior 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 might also notice recent changes to analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Palantir Technologies Inc. is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 82.68. This signifies a premium in comparison to the average Forward P/E of 23.5 for its industry.
Also, we should mention that PLTR has a PEG ratio of 3.08. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.51.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.