The most recent trading session ended with Palantir Technologies Inc. (PLTR – Free Report) standing at $96.51, reflecting a -0.24% shift from the previouse trading day’s closing. This move lagged the S&P 500’s daily gain of 0.16%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.46%.
Prior to today’s trading, shares of the company had gained 6.69% over the past month. This has outpaced the Computer and Technology sector’s loss of 5.94% and the S&P 500’s loss of 3.59% in that time.
Market participants will be closely following the financial results of Palantir Technologies Inc. in its upcoming release. The company is expected to report EPS of $0.13, up 62.5% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $864.52 million, up 36.29% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.56 per share and a revenue of $3.79 billion, signifying shifts of +36.59% and +32.18%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is presently being traded at a Forward P/E ratio of 174.01. This represents a premium compared to its industry’s average Forward P/E of 28.29.
One should further note that PLTR currently holds a PEG ratio of 5.54. 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 Internet – Software industry was having an average PEG ratio of 2.07.
The Internet – Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 128, positioning it in the top 50% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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