The latest trading session saw Palantir Technologies Inc. (PLTR) ending at $84.38, denoting a -1.71% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 1.01%, while the tech-heavy Nasdaq depreciated by 0.14%.

Coming into today, shares of the company had gained 1.1% in the past month. In that same time, the Computer and Technology sector lost 8.88%, while the S&P 500 lost 6.22%.

Market participants will be closely following the financial results of Palantir Technologies Inc. in its upcoming release. The company's upcoming EPS is projected at $0.13, signifying a 62.5% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $864.52 million, up 36.29% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.56 per share and revenue of $3.79 billion. These totals would mark changes of +36.59% and +32.18%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Palantir Technologies Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained unchanged. Palantir Technologies Inc. presently features a Zacks Rank of #3 (Hold).

With respect to valuation, Palantir Technologies Inc. is currently being traded at a Forward P/E ratio of 154.41. This denotes a premium relative to the industry's average Forward P/E of 26.45.

Also, we should mention that PLTR has a PEG ratio of 4.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Software industry was having an average PEG ratio of 2.01.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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

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