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Palantir Technologies Inc. (PLTR) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $14.22, marking a +0.64% move from the previous day. This change outpaced the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.

Heading into today, shares of the company had lost 2.75% over the past month, lagging the Business Services sector's loss of 0.6% and the S&P 500's loss of 1.38% in that time.

Palantir Technologies Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Palantir Technologies Inc. to post earnings of $0.06 per share. This would mark year-over-year growth of 500%. Meanwhile, our latest consensus estimate is calling for revenue of $555.02 million, up 16.14% from the prior-year quarter.

PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.23 per share and revenue of $2.22 billion. These results would represent year-over-year changes of +283.33% and +16.25%, respectively.

It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 4.26% higher within the past month. Palantir Technologies Inc. currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 62.21. This valuation marks a premium compared to its industry's average Forward P/E of 22.64.

Investors should also note that PLTR has a PEG ratio of 1.09 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 1.33 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 107, which puts it in the top 43% 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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