Palantir Technologies Inc. (PLTR) closed the latest trading day at $87.35, indicating a +1.29% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.64%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 0.31%.

Heading into today, shares of the company had lost 27.63% over the past month, lagging the Business Services sector's loss of 10.4% and the S&P 500's loss of 7.69% in that time.

Investors will be eagerly watching for the performance of Palantir Technologies Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.13, marking a 62.5% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $864.52 million, up 36.29% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.56 per share and revenue of $3.79 billion, indicating changes of +36.59% and +32.18%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Palantir Technologies Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.09% rise in the Zacks Consensus EPS estimate. Right now, Palantir Technologies Inc. possesses a Zacks Rank of #2 (Buy).

From a valuation perspective, Palantir Technologies Inc. is currently exchanging hands at a Forward P/E ratio of 155.11. This represents a premium compared to its industry's average Forward P/E of 21.55.

Also, we should mention that PLTR has a PEG ratio of 4.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Technology Services stocks are, on average, holding a PEG ratio of 1.7 based on yesterday's closing prices.

The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 67, this industry ranks in the top 27% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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This article originally published on Zacks Investment Research (zacks.com).

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