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Why Palantir Technologies (PLTR) Should Grace Your Portfolio?
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Palantir Technologies (PLTR - Free Report) aims to empower organizations to integrate their data, decisions and operations effectively through its three platforms, which are Palantir Gotham, Palantir Foundry and Palantir Apollo. The company has had an impressive run on the bourses over the year-to-date period, gaining 179.4% and beating the 29.4% rise in the industry it belongs to.
Why PLTR is an Attractive Pick
Solid Rank:
PLTRcurrently carries a Zacks Rank #2 ( Buy) and a VGM Score of B. Our research shows that stocks with a Zacks Rank #1 or 2 (Buy) in combination with a VGM Score of A or B offer the best investment opportunities. Thus, the company appears to be a compelling investment proposition at the moment.
Earnings Expectations:
Earnings growth and stock price gains often indicate a company’s prospects. For the full year 2023, the Zacks Consensus Estimate for earnings is pegged at 23 cents per share, which indicates growth of more than 100% from the year-ago reported figure. This has been revised upward by 4.6% in the past 60 days.The favorable estimate revision reflects the confidence of brokers in the stock.
Positive Earnings Surprise History:
PLTR has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed on one instance, delivering an earnings surprise of 2.1%, on average.
The industry to which Palantir Technologies belongs to currently has a Zacks Industry Rank of 90 (of 251 groups). Such a solid rank places the industry in the top 36% of the Zacks industries. Studies show that 50% of a stock price movement is directly tied to the performance of its industry group.
In fact, a mediocre stock in a healthy group is likely to outperform a robust stock in a poor industry. Therefore, taking the industry’s performance into account becomes necessary.
Growth Factors:
Palantir Technologies prioritizes privacy and ethical practices through its dedicated Privacy and Civil Liberties Engineering team. The company develops advanced technologies, including precise access controls, sensitive data detection, and federated search capabilities. Comprehensive audit logging ensures lawful data usage, while tools for data integrity, retention, and deletion align with regulations. Supported by external experts, the company maintains a responsible approach, thus empowering users to manage data securely and ethically.
To solve intricate customer challenges, firsthand experience is crucial. By embedding with users, PLTR’s research and development team refines platforms, thus identifying opportunities for innovation and new products. The company focuses on enhancing existing features, reliability, and usability, using real-world insights from diverse industries and emerging technologies. Significant investments ensure continuous platform improvement and innovation, including deployments in disconnected environments and integration with complex hardware. The company has invested $702.51 million in Research and Development in 2022, 14.3% higher than the 2021 reported figure.
Other Stocks to Consider
The following top-ranked stocks from the Business Services sector are also worth consideration:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the last four quarters and matched on one instance, with an average surprise of 9.9% The consensus mark for 2023 revenues is pegged at $2.66 billion, suggesting a decrease of 8.2% from the year-ago figure. The consensus estimate for 2023 earnings is pegged at $5.72 per share, indicating a 14% rise from the year-ago figure. VRSK currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank of 2. It outpaced the Zacks Consensus Estimate in all trailing four quarters, the average surprise being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank of 2. It surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on one instance, the average surprise being 0.5%. The consensus estimate for fiscal 2024 revenues and earnings suggests growth of 7.2% and 8.8%, respectively.
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Why Palantir Technologies (PLTR) Should Grace Your Portfolio?
Palantir Technologies (PLTR - Free Report) aims to empower organizations to integrate their data, decisions and operations effectively through its three platforms, which are Palantir Gotham, Palantir Foundry and Palantir Apollo. The company has had an impressive run on the bourses over the year-to-date period, gaining 179.4% and beating the 29.4% rise in the industry it belongs to.
Why PLTR is an Attractive Pick
Solid Rank:
PLTRcurrently carries a Zacks Rank #2 ( Buy) and a VGM Score of B. Our research shows that stocks with a Zacks Rank #1 or 2 (Buy) in combination with a VGM Score of A or B offer the best investment opportunities. Thus, the company appears to be a compelling investment proposition at the moment.
Earnings Expectations:
Earnings growth and stock price gains often indicate a company’s prospects. For the full year 2023, the Zacks Consensus Estimate for earnings is pegged at 23 cents per share, which indicates growth of more than 100% from the year-ago reported figure. This has been revised upward by 4.6% in the past 60 days.The favorable estimate revision reflects the confidence of brokers in the stock.
Positive Earnings Surprise History:
PLTR has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in three of the trailing four quarters and missed on one instance, delivering an earnings surprise of 2.1%, on average.
Palantir Technologies Inc. Price and EPS Surprise
Palantir Technologies Inc. price-eps-surprise | Palantir Technologies Inc. Quote
Bullish Industry Rank
The industry to which Palantir Technologies belongs to currently has a Zacks Industry Rank of 90 (of 251 groups). Such a solid rank places the industry in the top 36% of the Zacks industries. Studies show that 50% of a stock price movement is directly tied to the performance of its industry group.
In fact, a mediocre stock in a healthy group is likely to outperform a robust stock in a poor industry. Therefore, taking the industry’s performance into account becomes necessary.
Growth Factors:
Palantir Technologies prioritizes privacy and ethical practices through its dedicated Privacy and Civil Liberties Engineering team. The company develops advanced technologies, including precise access controls, sensitive data detection, and federated search capabilities. Comprehensive audit logging ensures lawful data usage, while tools for data integrity, retention, and deletion align with regulations. Supported by external experts, the company maintains a responsible approach, thus empowering users to manage data securely and ethically.
To solve intricate customer challenges, firsthand experience is crucial. By embedding with users, PLTR’s research and development team refines platforms, thus identifying opportunities for innovation and new products. The company focuses on enhancing existing features, reliability, and usability, using real-world insights from diverse industries and emerging technologies. Significant investments ensure continuous platform improvement and innovation, including deployments in disconnected environments and integration with complex hardware. The company has invested $702.51 million in Research and Development in 2022, 14.3% higher than the 2021 reported figure.
Other Stocks to Consider
The following top-ranked stocks from the Business Services sector are also worth consideration:
Verisk Analytics (VRSK - Free Report) beat the Zacks Consensus Estimate in three of the last four quarters and matched on one instance, with an average surprise of 9.9% The consensus mark for 2023 revenues is pegged at $2.66 billion, suggesting a decrease of 8.2% from the year-ago figure. The consensus estimate for 2023 earnings is pegged at $5.72 per share, indicating a 14% rise from the year-ago figure. VRSK currently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Automatic Data (ADP - Free Report) currently has a Zacks Rank of 2. It outpaced the Zacks Consensus Estimate in all trailing four quarters, the average surprise being 3.1%. The consensus estimate for fiscal 2023 revenues and earnings implies growth of 6.3% and 11.1%, respectively.
Broadridge (BR - Free Report) currently carries a Zacks Rank of 2. It surpassed the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched on one instance, the average surprise being 0.5%. The consensus estimate for fiscal 2024 revenues and earnings suggests growth of 7.2% and 8.8%, respectively.