In the latest trading session, Palantir Technologies Inc. (PLTR) closed at $22.52, marking a +1.53% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.82%.Coming into today, shares of the company had lost 12.68% in the past month. In that same time, the Business Services sector lost 14.63%, while the S&P 500 gained 3.89%.Wall Street will be looking for positivity from PLTR as it approaches its next earnings report date.For the full year, our Zacks Consensus Estimates are projecting earnings of $0.14 per share and revenue of $1.48 billion, which would represent changes of -26.32% and +35.26%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for PLTR. 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 shows that these estimate changes are directly correlated with near-term stock prices. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PLTR is currently sporting a Zacks Rank of #3 (Hold).Digging into valuation, PLTR currently has a Forward P/E ratio of 158.43. For comparison, its industry has an average Forward P/E of 31.46, which means PLTR is trading at a premium to the group.The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>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 Palantir Technologies Inc. (PLTR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research