Palantir Technologies Inc. (PLTR) closed at $23.77 in the last trading session, marking a move of -0.34% from the previous day. The move capped the S&P 500’s daily gain of 0.85%. Elsewhere, the Dow was down 0.09%, while the tech-heavy Nasdaq was up 1.53%.
The company’s stock has risen 11.24% in the past month, leading the Business Services sector’s loss of 0.5% and the S&P 500’s gain of 3.11%.
Palantir Technologies Inc.’s upcoming earnings release. will be of great interest to investors. The company is expected to report EPS of $0.08, showing a 60% upward movement from the corresponding quarter last year. Meanwhile, the latest consensus estimate calls for revenue to be $652.29 million, showing a 22.31% increase over the same quarter a year ago.
For the full year, Zacks Consensus Estimates forecast earnings of $0.33 per share and revenue of $2.7 billion, indicating +32% and +21.55% year-over-year changes, respectively.
Investors should also pay close attention to any recent changes in analyst ratings for Palantir Technologies Inc. These reviews help to show the ever-changing nature of short-term business trends. As a result, we can interpret positive rating reviews as a good sign for the company’s business prospects.
Research shows that these valuation revisions are directly related to short-term share price momentum. To take advantage of this, we have created Zacks Rank, a unique model that incorporates these estimated changes and provides a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an outstanding, externally audited track record of outperformance, with #1 stocks returning an average annual return of +25% since 1988. Over the past 30 days, the Zacks Consensus EPS Estimate has remained unchanged. Currently, Palantir Technologies Inc. is maintaining a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. it currently trades at a Forward P/E ratio of 72.55. This represents a premium compared to its industry average Forward P/E of 21.98.
It’s also important to note that PLTR currently trades at a PEG ratio of 2.7. The PEG ratio is similar to the commonly used P/E ratio, but this measure also includes the company’s projected earnings growth rate. Technology Services carried an average PEG ratio of 1.56 at yesterday’s closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 63, placing it in the top 25% of all 250+ industries.
The Zacks Industry Rank measures the strength of our individual industry groups by averaging the Zacks Ranks of the individual stocks within the groups. Our research shows that industries rated in the top 50% outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, at Zacks.com.
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