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Palantir Technologies Inc. (PLTR) Dips More Than Broader Markets: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $8.08 in the latest trading session, marking a -1.7% move from the prior day. This change lagged the S&P 500's 1.06% loss on the day. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the company had lost 2.38% over the past month. This has lagged the Business Services sector's gain of 5.05% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $0.02, down 50% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $474.58 million, up 21.02% from the year-ago period.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -61.54% and +23.3%, respectively.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 3.13% lower within the past month. Palantir Technologies Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Palantir Technologies Inc. is holding a Forward P/E ratio of 154.13. For comparison, its industry has an average Forward P/E of 22.28, which means Palantir Technologies Inc. is trading at a premium to the group.
Also, we should mention that PLTR has a PEG ratio of 4.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 134, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Dips More Than Broader Markets: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $8.08 in the latest trading session, marking a -1.7% move from the prior day. This change lagged the S&P 500's 1.06% loss on the day. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the company had lost 2.38% over the past month. This has lagged the Business Services sector's gain of 5.05% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $0.02, down 50% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $474.58 million, up 21.02% from the year-ago period.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -61.54% and +23.3%, respectively.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 3.13% lower within the past month. Palantir Technologies Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Palantir Technologies Inc. is holding a Forward P/E ratio of 154.13. For comparison, its industry has an average Forward P/E of 22.28, which means Palantir Technologies Inc. is trading at a premium to the group.
Also, we should mention that PLTR has a PEG ratio of 4.98. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 2.16 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 134, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.