Palantir Technologies Inc. (PLTR) closed the most recent trading day at $151.00, moving -3.47% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.01%.
Heading into today, shares of the company had gained 9.46% over the past month, outpacing the Computer and Technology sector's loss of 3.04% and the S&P 500's loss of 2.26%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0.29, showcasing a 123.08% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $1.54 billion, up 73.72% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.31 per share and revenue of $7.22 billion, indicating changes of +74.67% and +61.25%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.16% downward. As of now, Palantir Technologies Inc. holds a Zacks Rank of #3 (Hold).
In the context of valuation, Palantir Technologies Inc. is at present trading with a Forward P/E ratio of 119.34. This signifies a premium in comparison to the average Forward P/E of 20.77 for its industry.
We can also see that PLTR currently has a PEG ratio of 2.41. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. PLTR's industry had an average PEG ratio of 1.18 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 146, this industry ranks in the bottom 41% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Palantir Technologies Inc. (PLTR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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