Palantir Technologies Inc. (PLTR) closed the most recent trading day at $167.86, moving -5.56% from the previous trading session. This change lagged the S&P 500's 0.19% gain on the day. Elsewhere, the Dow saw an upswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.03%.
Heading into today, shares of the company had lost 0.1% over the past month, lagging the Computer and Technology sector's gain of 0.02% and the S&P 500's gain of 0.54%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company is expected to report EPS of $0.23, up 64.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 62.75% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.73 per share and revenue of $4.42 billion, indicating changes of +78.05% and 0%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Palantir Technologies Inc. presently features a Zacks Rank of #1 (Strong Buy).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 170.91. This signifies a premium in comparison to the average Forward P/E of 24.2 for its industry.
Also, we should mention that PLTR has a PEG ratio of 3.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Internet - Software industry stood at 1.54 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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