Palantir Technologies Inc. (PLTR) Stock Falls Amid Market Uptick: What Investors Need to Know

The most recent trading session ended with Palantir Technologies Inc. (PLTR) standing at $23.80, reflecting a -0.83% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.57%. Meanwhile, the Dow experienced a rise of 0.83%, and the technology-dominated Nasdaq saw an increase of 0.39%.

The the stock of company has fallen by 1.8% in the past month, lagging the Business Services sector's gain of 2.03% and the S&P 500's gain of 2.97%.

Investors will be eagerly watching for the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.08, showcasing a 60% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $614.88 million, indicating a 17.08% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.33 per share and a revenue of $2.68 billion, representing changes of +32% and +20.56%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Palantir Technologies Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Palantir Technologies Inc. presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Palantir Technologies Inc. is currently trading at a Forward P/E ratio of 73. This represents a premium compared to its industry's average Forward P/E of 25.99.

It is also worth noting that PLTR currently has a PEG ratio of 2.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.67.

The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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