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

Zacks Equity Research
·2 min read

In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $28.56, marking a -0.73% move from the previous day. This move lagged the S&P 500's daily gain of 0.15%.

Heading into today, shares of the company had gained 15.68% over the past month, outpacing the Business Services sector's gain of 1.13% and the S&P 500's loss of 0.58% in that time.

PLTR will be looking to display strength as it nears 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, the Zacks Consensus Estimate for revenue is projecting net sales of $385 million, up 33.05% from the year-ago period.

PLTR's full-year Zacks Consensus Estimates are calling for earnings of $0.16 per share and revenue of $1.5 billion. These results would represent year-over-year changes of -15.79% and +37.48%, respectively.

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Investors should also note any recent changes to analyst estimates for PLTR. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. PLTR is currently a Zacks Rank #3 (Hold).

Investors should also note PLTR's current valuation metrics, including its Forward P/E ratio of 185.61. For comparison, its industry has an average Forward P/E of 29.67, which means PLTR is trading at a premium to the group.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 223, which puts it in the bottom 13% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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