Palantir Technologies Inc. (PLTR) closed the most recent trading day at $133.25, moving -1.08% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
The company's shares have seen a decrease of 0.32% over the last month, not keeping up with the Computer and Technology sector's gain of 2.85% and the S&P 500's gain of 2.14%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company's upcoming EPS is projected at $0.35, signifying a 118.75% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.81 billion, indicating a 79.96% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.49 per share and a revenue of $7.69 billion, signifying shifts of +98.67% and +71.77%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #2 (Buy).
In the context of valuation, Palantir Technologies Inc. is at present trading with a Forward P/E ratio of 90.46. This indicates a premium in contrast to its industry's Forward P/E of 18.65.
It is also worth noting that PLTR currently has a PEG ratio of 1.69. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry had an average PEG ratio of 1.05 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Palantir Technologies Inc. (PLTR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).