In the latest close session, Palantir Technologies Inc. (PLTR) was up +2.7% at $166.74. This move outpaced the S&P 500's daily gain of 0.3%. Elsewhere, the Dow saw a downswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.03%.
Shares of the company have depreciated by 13.16% over the course of the past month, underperforming the Computer and Technology sector's gain of 3.1%, and the S&P 500's gain of 2.09%.
Investors will be eagerly watching for the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.17, indicating a 70% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.09 billion, reflecting a 50.65% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.65 per share and a revenue of $4.17 billion, signifying shifts of +58.54% and +45.57%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, Palantir Technologies Inc. is currently exchanging hands at a Forward P/E ratio of 251.19. This indicates a premium in contrast to its industry's Forward P/E of 31.58.
It is also worth noting that PLTR currently has a PEG ratio of 6.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software industry had an average PEG ratio of 2.34 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
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.
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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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