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Palantir Technologies Inc. (PLTR) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest close session, Palantir Technologies Inc. (PLTR - Free Report) was down 1.53% at $189.64. This change lagged the S&P 500's daily gain of 0.51%. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 0.48%.
The company's shares have seen an increase of 3.58% over the last month, not keeping up with the Computer and Technology sector's gain of 6.54% and outstripping the S&P 500's gain of 0.74%.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $0.42, signifying a 100.00% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.17 billion, showing a 83.95% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $8.19 billion, which would represent changes of +114.67% and +82.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Palantir Technologies Inc. is presently trading at a Forward P/E ratio of 119.81. This indicates a premium in contrast to its industry's Forward P/E of 19.18.
It's also important to note that PLTR currently trades at a PEG ratio of 2.16. 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. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.18.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
View the Zacks #1 Rank List
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Palantir Technologies Inc. (PLTR) Stock Drops Despite Market Gains: Important Facts to Note
In the latest close session, Palantir Technologies Inc. (PLTR - Free Report) was down 1.53% at $189.64. This change lagged the S&P 500's daily gain of 0.51%. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 0.48%.
The company's shares have seen an increase of 3.58% over the last month, not keeping up with the Computer and Technology sector's gain of 6.54% and outstripping the S&P 500's gain of 0.74%.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at $0.42, signifying a 100.00% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.17 billion, showing a 83.95% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.61 per share and revenue of $8.19 billion, which would represent changes of +114.67% and +82.96%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Palantir Technologies Inc. is presently trading at a Forward P/E ratio of 119.81. This indicates a premium in contrast to its industry's Forward P/E of 19.18.
It's also important to note that PLTR currently trades at a PEG ratio of 2.16. 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. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 1.18.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank is ordered 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.