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Palantir Technologies Inc. (PLTR) Laps the Stock Market: Here's Why
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $190.00, marking a +1.58% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.2%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.04%.
The stock of company has risen by 10.38% in the past month, leading the Computer and Technology sector's gain of 4.78% and the S&P 500's loss of 0.35%.
The investment community will be paying close attention to the earnings performance of Palantir Technologies Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.42, reflecting a 100% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.17 billion, indicating a 83.95% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.61 per share and a revenue of $8.19 billion, signifying shifts of +114.67% and +82.96%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 116.36. For comparison, its industry has an average Forward P/E of 19.07, which means Palantir Technologies Inc. is trading at a premium to the group.
It is also worth noting that PLTR currently has a PEG ratio of 2.1. 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 Internet - Software industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Palantir Technologies Inc. (PLTR) Laps the Stock Market: Here's Why
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $190.00, marking a +1.58% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.2%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.04%.
The stock of company has risen by 10.38% in the past month, leading the Computer and Technology sector's gain of 4.78% and the S&P 500's loss of 0.35%.
The investment community will be paying close attention to the earnings performance of Palantir Technologies Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be $0.42, reflecting a 100% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.17 billion, indicating a 83.95% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.61 per share and a revenue of $8.19 billion, signifying shifts of +114.67% and +82.96%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Palantir Technologies Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 116.36. For comparison, its industry has an average Forward P/E of 19.07, which means Palantir Technologies Inc. is trading at a premium to the group.
It is also worth noting that PLTR currently has a PEG ratio of 2.1. 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 Internet - Software industry had an average PEG ratio of 1.14 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.