Yahoo Finance Palantir Technologies Inc. (PLTR) Gains As Market Dips: What You Should Know
In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $14.62, marking a +0.41% move from the previous day. This move outpaced the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq gained 0.03%.
Coming into today, shares of the company had lost 22.88% in the past month. In that same time, the Business Services sector lost 19.01%, while the S&P 500 lost 1.81%.
Investors will be hoping for strength from Palantir Technologies Inc. as it approaches its next earnings release. On that day, Palantir Technologies Inc. is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $418.1 million, up 29.81% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Palantir Technologies Inc. is currently a Zacks Rank #2 (Buy).
Investors should also note Palantir Technologies Inc.'s current valuation metrics, including its Forward P/E ratio of 67.2. This represents a premium compared to its industry's average Forward P/E of 23.01.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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