Yahoo Finance Palantir Technologies Inc. (PLTR) Stock Slides as Market Rises: Facts to Know Before You Trade
Palantir Technologies Inc. (PLTR) closed the most recent trading day at $21.59, moving -0.23% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.
Shares of the company have depreciated by 13.06% over the course of the past month, underperforming the Business Services sector's loss of 5.08% and the S&P 500's loss of 3.01%.
Analysts and investors alike will be keeping a close eye on the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 6, 2024. The company's earnings per share (EPS) are projected to be $0.08, reflecting a 60% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $614.88 million, up 17.08% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.33 per share and revenue of $2.68 billion. These totals would mark changes of +32% and +20.56%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Palantir Technologies Inc. is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Palantir Technologies Inc. is currently exchanging hands at a Forward P/E ratio of 65.82. This valuation marks a premium compared to its industry's average Forward P/E of 23.22.
Investors should also note that PLTR has a PEG ratio of 2.51 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry had an average PEG ratio of 1.52 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 152, positioning it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
