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Palantir Technologies Inc. (PLTR) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $6.29, marking a -0.47% move from the previous day. This change lagged the S&P 500's 0.59% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the company had lost 14.25% over the past month, lagging the Business Services sector's loss of 3.75% and the S&P 500's loss of 4.33% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.03, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $505.95 million, up 16.88% from the prior-year quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.04 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -69.23% and +23.43%, respectively.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 143.64. Its industry sports an average Forward P/E of 22.99, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
Also, we should mention that PLTR has a PEG ratio of 5.1. 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. Technology Services stocks are, on average, holding a PEG ratio of 1.99 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $6.29, marking a -0.47% move from the previous day. This change lagged the S&P 500's 0.59% gain on the day. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the company had lost 14.25% over the past month, lagging the Business Services sector's loss of 3.75% and the S&P 500's loss of 4.33% in that time.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.03, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $505.95 million, up 16.88% from the prior-year quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.04 per share and revenue of $1.9 billion. These results would represent year-over-year changes of -69.23% and +23.43%, respectively.
Any recent changes to analyst estimates for Palantir Technologies Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 143.64. Its industry sports an average Forward P/E of 22.99, so we one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
Also, we should mention that PLTR has a PEG ratio of 5.1. 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. Technology Services stocks are, on average, holding a PEG ratio of 1.99 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.