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Palantir Technologies Inc. (PLTR) Flat As Market Gains: What You Should Know
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Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $17.36, indicating no change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.06%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 1.2%.
Prior to today's trading, shares of the company had gained 13.24% over the past month. This has outpaced the Business Services sector's loss of 3.86% and the S&P 500's loss of 3% in that time.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $0.06, marking a 500% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $555.02 million, up 16.14% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.23 per share and revenue of $2.22 billion. These totals would mark changes of +283.33% and +16.25%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.14% higher. At present, Palantir Technologies Inc. boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Palantir Technologies Inc. is presently trading at a Forward P/E ratio of 75.48. Its industry sports an average Forward P/E of 23.18, so one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
It's also important to note that PLTR currently trades at a PEG ratio of 1.33. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Flat As Market Gains: What You Should Know
Palantir Technologies Inc. (PLTR - Free Report) closed the latest trading day at $17.36, indicating no change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.06%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 1.2%.
Prior to today's trading, shares of the company had gained 13.24% over the past month. This has outpaced the Business Services sector's loss of 3.86% and the S&P 500's loss of 3% in that time.
The investment community will be closely monitoring the performance of Palantir Technologies Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $0.06, marking a 500% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $555.02 million, up 16.14% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.23 per share and revenue of $2.22 billion. These totals would mark changes of +283.33% and +16.25%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Palantir Technologies Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.14% higher. At present, Palantir Technologies Inc. boasts a Zacks Rank of #2 (Buy).
Looking at valuation, Palantir Technologies Inc. is presently trading at a Forward P/E ratio of 75.48. Its industry sports an average Forward P/E of 23.18, so one might conclude that Palantir Technologies Inc. is trading at a premium comparatively.
It's also important to note that PLTR currently trades at a PEG ratio of 1.33. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.