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Palantir Technologies Inc. (PLTR) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $42.94, marking a +0.56% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.
The the stock of company has risen by 12.52% in the past month, leading the Business Services sector's gain of 3.48% and the S&P 500's gain of 2.76%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company's earnings report is expected on November 4, 2024. The company is forecasted to report an EPS of $0.09, showcasing a 28.57% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $705.1 million, up 26.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.36 per share and revenue of $2.76 billion, indicating changes of +44% and +24.15%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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. currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Palantir Technologies Inc. is at present trading with a Forward P/E ratio of 119.72. This denotes a premium relative to the industry's average Forward P/E of 25.78.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Palantir Technologies Inc. (PLTR) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Palantir Technologies Inc. (PLTR - Free Report) closed at $42.94, marking a +0.56% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.
The the stock of company has risen by 12.52% in the past month, leading the Business Services sector's gain of 3.48% and the S&P 500's gain of 2.76%.
The upcoming earnings release of Palantir Technologies Inc. will be of great interest to investors. The company's earnings report is expected on November 4, 2024. The company is forecasted to report an EPS of $0.09, showcasing a 28.57% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $705.1 million, up 26.33% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.36 per share and revenue of $2.76 billion, indicating changes of +44% and +24.15%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Palantir Technologies Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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. currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Palantir Technologies Inc. is at present trading with a Forward P/E ratio of 119.72. This denotes a premium relative to the industry's average Forward P/E of 25.78.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.