Palantir Technologies Inc. (PLTR) closed the most recent trading day at $176.82, moving -2.68% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.01%. Meanwhile, the Dow experienced a rise of 0.55%, and the technology-dominated Nasdaq saw a decrease of 0.44%.
The company's shares have seen a decrease of 3.32% over the last month, not keeping up with the Computer and Technology sector's loss of 0.69% and the S&P 500's gain of 0.86%.
The investment community will be paying close attention to the earnings performance of Palantir Technologies Inc. in its upcoming release. The company's upcoming EPS is projected at $0.23, signifying a 64.29% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, up 62.75% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.73 per share and a revenue of $4.42 billion, representing changes of +78.05% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 174.69. This valuation marks a premium compared to its industry average Forward P/E of 25.1.
Meanwhile, PLTR's PEG ratio is currently 3.49. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Internet - Software was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% 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.
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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Palantir Technologies Inc. (PLTR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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