Palantir Technologies Inc. (PLTR) ended the recent trading session at $78.98, demonstrating no swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.32%, while the tech-heavy Nasdaq depreciated by 0.5%.
Prior to today's trading, shares of the company had lost 3.85% over the past month. This has lagged the Business Services sector's gain of 1.82% and the S&P 500's gain of 2.52% in that time.
Market participants will be closely following the financial results of Palantir Technologies Inc. in its upcoming release. The company plans to announce its earnings on February 3, 2025. In that report, analysts expect Palantir Technologies Inc. to post earnings of $0.11 per share. This would mark year-over-year growth of 37.5%. Our most recent consensus estimate is calling for quarterly revenue of $778.89 million, up 28.03% from the year-ago period.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 2.07% higher. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Palantir Technologies Inc. is holding a Forward P/E ratio of 163.52. This valuation marks a premium compared to its industry's average Forward P/E of 24.05.
It's also important to note that PLTR currently trades at a PEG ratio of 4.53. 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 1.6 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 87, positioning it in the top 35% of all 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
