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Palantir Technologies Inc. (PLTR) Gains But Lags Market: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed at $7.24 in the latest trading session, marking a +0.28% move from the prior day. The stock lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Prior to today's trading, shares of the company had gained 18.95% over the past month. This has outpaced the Business Services sector's gain of 7.72% and the S&P 500's gain of 4.58% 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 February 13, 2023. On that day, Palantir Technologies Inc. is projected to report earnings of $0.03 per share, which would represent year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $505.95 million, up 16.88% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.7% lower. Palantir Technologies Inc. is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 47.6. This represents a premium compared to its industry's average Forward P/E of 21.25.
We can also see that PLTR currently has a PEG ratio of 1.69. 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. The Technology Services industry currently had an average PEG ratio of 2.06 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Gains But Lags Market: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed at $7.24 in the latest trading session, marking a +0.28% move from the prior day. The stock lagged the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Prior to today's trading, shares of the company had gained 18.95% over the past month. This has outpaced the Business Services sector's gain of 7.72% and the S&P 500's gain of 4.58% 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 February 13, 2023. On that day, Palantir Technologies Inc. is projected to report earnings of $0.03 per share, which would represent year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $505.95 million, up 16.88% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.7% lower. Palantir Technologies Inc. is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, Palantir Technologies Inc. currently has a Forward P/E ratio of 47.6. This represents a premium compared to its industry's average Forward P/E of 21.25.
We can also see that PLTR currently has a PEG ratio of 1.69. 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. The Technology Services industry currently had an average PEG ratio of 2.06 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.