In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $138.24, marking a -2.24% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.84%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
The company's shares have seen an increase of 9.18% over the last month, surpassing the Computer and Technology sector's loss of 0% and the S&P 500's gain of 1.44%.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $0.14, signifying a 55.56% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $938.34 million, reflecting a 38.37% rise from the equivalent quarter last year.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.59 per share and revenue of $3.92 billion. These results would represent year-over-year changes of +43.9% and +36.75%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Palantir Technologies Inc. possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 382.19. For comparison, its industry has an average Forward P/E of 45.44, which means Palantir Technologies Inc. is trading at a premium to the group.
It is also worth noting that PLTR currently has a PEG ratio of 11.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software industry currently had an average PEG ratio of 3.23 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Palantir Technologies Inc. (PLTR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
