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Palantir Technologies Inc. (PLTR) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $21.78, marking a -0.73% move from the previous day. This change lagged the S&P 500's 0.68% loss on the day.

Coming into today, shares of the company had lost 7.61% in the past month. In that same time, the Business Services sector gained 0.56%, while the S&P 500 gained 6.62%.

PLTR will be looking to display strength as it nears its next earnings release.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $1.46 billion, which would represent changes of -5.26% and +33.58%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for PLTR. These revisions help to show the ever-changing nature of 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PLTR currently has a Zacks Rank of #3 (Hold).

In terms of valuation, PLTR is currently trading at a Forward P/E ratio of 128.4. This represents a premium compared to its industry's average Forward P/E of 31.39.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 38% 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.

To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.


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