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Why Palantir Technologies Inc. (PLTR) Outpaced the Stock Market Today
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $35.59, marking a +1.95% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.54%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 0.65%.
The the stock of company has risen by 11.82% in the past month, leading the Business Services sector's gain of 7.34% and the S&P 500's gain of 4.86%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.09, showcasing a 28.57% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $705.1 million, showing a 26.33% escalation compared to the year-ago quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.36 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +44% and +24.15%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained stagnant. As of now, Palantir Technologies Inc. holds a Zacks Rank of #3 (Hold).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 97.65. This expresses a premium compared to the average Forward P/E of 23.36 of its industry.
Investors should also note that PLTR has a PEG ratio of 3.25 right now. 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 of the close of trade yesterday, the Technology Services industry held 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 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Why Palantir Technologies Inc. (PLTR) Outpaced the Stock Market Today
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $35.59, marking a +1.95% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.54%. Meanwhile, the Dow experienced a rise of 0.72%, and the technology-dominated Nasdaq saw an increase of 0.65%.
The the stock of company has risen by 11.82% in the past month, leading the Business Services sector's gain of 7.34% and the S&P 500's gain of 4.86%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.09, showcasing a 28.57% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $705.1 million, showing a 26.33% escalation compared to the year-ago quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.36 per share and revenue of $2.76 billion. These results would represent year-over-year changes of +44% and +24.15%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 remained stagnant. As of now, Palantir Technologies Inc. holds a Zacks Rank of #3 (Hold).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 97.65. This expresses a premium compared to the average Forward P/E of 23.36 of its industry.
Investors should also note that PLTR has a PEG ratio of 3.25 right now. 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 of the close of trade yesterday, the Technology Services industry held 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 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.