Send me real-time posts from this site at my email
Zacks

Palantir Technologies Inc. (PLTR) Flat As Market Gains: What You Should Know

In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $22.58, marking no change from the previous day. This change lagged the S&P 500's 1.66% gain on the day. Elsewhere, the Dow gained 1.39%, while the tech-heavy Nasdaq added 1.24%.

Heading into today, shares of the company had lost 5.76% over the past month, lagging the Business Services sector's loss of 0.01% and the S&P 500's gain of 1.91% in that time.

PLTR will be looking to display strength as it nears its next earnings release.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.18 per share and revenue of $1.46 billion, which would represent changes of -5.26% and +33.58%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for PLTR. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PLTR is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, PLTR is holding a Forward P/E ratio of 129.03. This represents a premium compared to its industry's average Forward P/E of 30.29.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Palantir Technologies Inc. (PLTR): Free Stock Analysis Report
 
To read this article on Zacks.com click here.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue