Palantir Technologies Inc. (PLTR – Free Report) closed the latest trading day at $75.19, indicating a -0.58% change from the previous session’s end. This change lagged the S&P 500’s 0.22% loss on the day. Elsewhere, the Dow saw a downswing of 0.36%, while the tech-heavy Nasdaq depreciated by 0.16%.
Shares of the company have appreciated by 8.27% over the course of the past month, outperforming the Business Services sector’s loss of 4.49% and the S&P 500’s loss of 2.36%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company’s earnings per share (EPS) are projected to be $0.11, reflecting a 37.5% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $780.67 million, reflecting a 28.33% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.73% higher. As of now, Palantir Technologies Inc. holds a Zacks Rank of #3 (Hold).
Looking at valuation, Palantir Technologies Inc. is presently trading at a Forward P/E ratio of 160.06. This valuation marks a premium compared to its industry’s average Forward P/E of 23.57.
Meanwhile, PLTR’s PEG ratio is currently 4.44. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. Technology Services stocks are, on average, holding a PEG ratio of 1.35 based on yesterday’s closing prices.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 71, this industry ranks in the top 29% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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