Palantir Technologies Inc. PLTR is slated to report third-quarter 2023 results on Nov 2, before the opening bell.
The company’s earnings surprise history has been impressive. PLTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, met once and missed once, delivering an average surprise of 2.1%.
Q3 Expectations
The Zacks Consensus Estimate for revenues is pegged at $555 million, indicating 16.1% year-over-year growth. The top line is expected to have benefited from strength in both the Government and Commercial segments. Both segments are likely to have gained from increased contributions from existing as well as new customers.
Palantir Technologies Inc. Price and EPS Surprise
Palantir Technologies Inc. price-eps-surprise | Palantir Technologies Inc. Quote
The consensus mark for earnings is pegged at 6 cents per share, suggesting a year-over-year surge of 500%. Revenue growth and better operating performance are likely to have positively impacted the bottom line in the quarter under discussion.
What Our Model Says
Our proven model predicts an earnings beat for Palantir this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is exactly the case here. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Palantir has an Earnings ESP of +4.35% and a Zacks Rank #2.
Other Stocks That Warrant a Look
Here are a few other stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these too have the right combination of elements to beat on earnings this season.
Gartner IT has an Earnings ESP of +4.30% and carries a Zacks Rank of 3 at present. IT beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 32.6%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
The company’s revenues are expected to rise 4.5% from a year ago. The bottom line is forecast to decline 22.8% from the prior-year figure. IT is scheduled to release third-quarter earnings on Nov 3.
Trane Technologies TT has an Earnings ESP of +0.54% and a Zacks Rank of 2 at present. The company’s revenues and earnings are suggested to grow 9.4% and 17.2%, respectively, from the year-ago levels.
TT beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 7.3%. It is expected to release third-quarter numbers on Nov 1.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gartner, Inc. (IT) : Free Stock Analysis Report
Trane Technologies plc (TT) : Free Stock Analysis Report
Palantir Technologies Inc. (PLTR) : Free Stock Analysis Report
