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Is Palantir Technologies (PLTR) Outperforming Other Business Services Stocks This Year?

Zacks Equity Research
·2-min read

Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Palantir Technologies (PLTR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of PLTR and the rest of the Business Services group's stocks.

Palantir Technologies is one of 222 companies in the Business Services group. The Business Services group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. PLTR is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for PLTR's full-year earnings has moved 2.94% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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According to our latest data, PLTR has moved about 2.08% on a year-to-date basis. In comparison, Business Services companies have returned an average of 0.38%. This shows that Palantir Technologies is outperforming its peers so far this year.

Looking more specifically, PLTR belongs to the Technology Services industry, which includes 89 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have lost 0.82% this year, meaning that PLTR is performing better in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track PLTR. The stock will be looking to continue its solid performance.


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Zacks Investment Research