Palantir Technologies Inc. (PLTR) closed at $43.52 in the latest trading session, marking a +0.9% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.05%.
The the stock of company has risen by 23.76% in the past month, leading the Business Services sector's gain of 4% and the S&P 500's gain of 5.94%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. On that day, Palantir Technologies Inc. is projected to report earnings of $0.09 per share, which would represent year-over-year growth of 28.57%. At the same time, our most recent consensus estimate is projecting a revenue of $705.1 million, reflecting a 26.33% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.36 per share and a revenue of $2.76 billion, signifying shifts of +44% and +24.15%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates 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. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.57% decrease. Palantir Technologies Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Palantir Technologies Inc. is presently being traded at a Forward P/E ratio of 120.93. This expresses a premium compared to the average Forward P/E of 25.49 of its industry.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.
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