Palantir Stock Dips Despite Upcoming Earnings Growth
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Palantir Technologies (PLTR) stock closed down 1.19% while broader markets were up slightly. The stock has underperformed over the past month.
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Analysts estimate strong earnings growth for Palantir in the upcoming quarterly report, projecting 100% EPS increase year-over-year.
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Revenue is also expected to grow nearly 19% compared to last year. Full year forecasts call for 316% EPS growth and 16.5% revenue growth.
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Recent analyst estimate revisions are directly correlated with stock prices, and Palantir has a Zacks Rank of #1 (Strong Buy) based on positive revisions.
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Valuation metrics show Palantir trading at a premium to industry peers in terms of forward P/E and PEG ratios.