Palantir Technologies Inc. (PLTR) closed the latest trading day at $136.35, indicating a +2.67% change from the previous session's end. This change outpaced the S&P 500's 0.27% loss on the day.
Shares of the company have appreciated by 3.68% over the course of the past month, underperforming the Computer and Technology sector's gain of 11.99%, and the S&P 500's gain of 6.9%.
The investment community will be paying close attention to the earnings performance of Palantir Technologies Inc. in its upcoming release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 55.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $938.34 million, up 38.37% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.59 per share and a revenue of $3.92 billion, representing changes of +43.9% and +36.75%, respectively, from the prior 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Palantir Technologies Inc. is holding a Forward P/E ratio of 226.25. This represents a premium compared to its industry average Forward P/E of 29.06.
We can also see that PLTR currently has a PEG ratio of 7.06. 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. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.29.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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