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

Zacks Equity Research
·2-min read

In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $23.69, marking a +0.68% move from the previous day. This change outpaced the S&P 500's 0.24% loss on the day.

Coming into today, shares of the company had lost 8.9% in the past month. In that same time, the Business Services sector lost 6.9%, while the S&P 500 lost 2.12%.

Investors will be hoping for strength from PLTR as it approaches its next earnings release. On that day, PLTR is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 55.56%. Meanwhile, our latest consensus estimate is calling for revenue of $385 million, up 33.05% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.16 per share and revenue of $1.5 billion, which would represent changes of -15.79% and +37.48%, respectively, from the prior year.

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Any recent changes to analyst estimates for PLTR should also be noted by investors. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. PLTR is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note PLTR's current valuation metrics, including its Forward P/E ratio of 151.81. This represents a premium compared to its industry's average Forward P/E of 28.38.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 29% 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.


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