Palantir Technologies Inc. (PLTR) closed the most recent trading day at $44.97, moving +0.25% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.27%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.26%.

Prior to today's trading, shares of the company had gained 21.77% over the past month. This has outpaced the Business Services sector's gain of 2.34% and the S&P 500's gain of 2% in that time.

The investment community will be paying close attention to the earnings performance of Palantir Technologies Inc. in its upcoming release. The company is slated to reveal its earnings on November 4, 2024. It is anticipated that the company will report an EPS of $0.09, marking a 28.57% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $705.1 million, showing a 26.33% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $0.36 per share and a revenue of $2.76 billion, demonstrating changes of +44% and +24.15%, respectively, from the preceding 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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.57% lower. Currently, Palantir Technologies Inc. is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Palantir Technologies Inc. has a Forward P/E ratio of 125.78 right now. This valuation marks a premium compared to its industry's average Forward P/E of 24.85.

The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.