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Palantir Technologies Inc. (PLTR) Dips More Than Broader Market: What You Should Know
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The latest trading session saw Palantir Technologies Inc. (PLTR - Free Report) ending at $16.39, denoting a -0.85% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.56%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.59%.
The company's stock has dropped by 7.91% in the past month, falling short of the Business Services sector's loss of 0.38% and the S&P 500's gain of 1.2%.
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 February 5, 2024. The company's upcoming EPS is projected at $0.08, signifying a 100% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $603.48 million, showing a 18.65% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 56.27. This denotes a premium relative to the industry's average Forward P/E of 22.38.
It's also important to note that PLTR currently trades at a PEG ratio of 0.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PLTR's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Palantir Technologies Inc. (PLTR) Dips More Than Broader Market: What You Should Know
The latest trading session saw Palantir Technologies Inc. (PLTR - Free Report) ending at $16.39, denoting a -0.85% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.56%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.59%.
The company's stock has dropped by 7.91% in the past month, falling short of the Business Services sector's loss of 0.38% and the S&P 500's gain of 1.2%.
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 February 5, 2024. The company's upcoming EPS is projected at $0.08, signifying a 100% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $603.48 million, showing a 18.65% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 56.27. This denotes a premium relative to the industry's average Forward P/E of 22.38.
It's also important to note that PLTR currently trades at a PEG ratio of 0.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. PLTR's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 26% of over 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.