Yahoo Finance Palantir Technologies Inc. (PLTR) Gains As Market Dips: What You Should Know
Palantir Technologies Inc. (PLTR) ended the recent trading session at $22.12, demonstrating a +0.68% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.33%.
Coming into today, shares of the company had lost 3.3% in the past month. In that same time, the Business Services sector lost 6.97%, while the S&P 500 lost 4.05%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 6, 2024. The company's earnings per share (EPS) are projected to be $0.08, reflecting a 60% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $614.88 million, showing a 17.08% escalation compared to the year-ago quarter.
PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.33 per share and revenue of $2.68 billion. These results would represent year-over-year changes of +32% and +20.56%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Palantir Technologies Inc. presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Palantir Technologies Inc. is at present trading with a Forward P/E ratio of 66.83. This represents a premium compared to its industry's average Forward P/E of 23.65.
Investors should also note that PLTR has a PEG ratio of 2.55 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Technology Services was holding an average PEG ratio of 1.48 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 93, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
