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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 $21.47 in the latest trading session, marking a -0.42% move from the prior day. This change lagged the S&P 500's 0.33% loss on the day.

Heading into today, shares of the company had lost 13.07% over the past month, outpacing the Business Services sector's loss of 15.1% and lagging the S&P 500's gain of 2.89% in that time.

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

PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.14 per share and revenue of $1.48 billion. These results would represent year-over-year changes of -26.32% and +35.26%, respectively.

It is also important to note the 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PLTR is currently a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that PLTR has a Forward P/E ratio of 154 right now. For comparison, its industry has an average Forward P/E of 32.53, which means PLTR is trading at a premium to the group.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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