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

Palantir Technologies Inc. (PLTR) closed the most recent trading day at $22.30, moving +0.27% from the previous trading session. This change outpaced the S&P 500's 0.46% loss on the day.

Prior to today's trading, shares of the company had lost 9.89% over the past month. This has lagged the Business Services sector's loss of 3.15% and the S&P 500's gain of 1.69% in that time.

Wall Street will be looking for positivity from PLTR as it approaches its next earnings report date. This is expected to be August 12, 2021.

PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.14 per share and revenue of $1.48 billion. These results would represent year-over-year changes of -26.32% and +35.26%, respectively.

Any recent changes to analyst estimates for PLTR should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PLTR currently has a Zacks Rank of #3 (Hold).

In terms of valuation, PLTR is currently trading at a Forward P/E ratio of 158.86. This represents a premium compared to its industry's average Forward P/E of 32.72.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 23% 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.

To follow PLTR in the coming trading sessions, be sure to utilize Zacks.com.

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