Is Palantir Technologies (PLTR) Stock Outpacing Its Business Services Peers This Year?

For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Palantir Technologies Inc. (PLTR) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Palantir Technologies Inc. is a member of the Business Services sector. This group includes 290 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Palantir Technologies Inc. is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for PLTR's full-year earnings has moved 9.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Our latest available data shows that PLTR has returned about 3.2% since the start of the calendar year. Meanwhile, stocks in the Business Services group have lost about 1.3% on average. This means that Palantir Technologies Inc. is performing better than its sector in terms of year-to-date returns.Another Business Services stock, which has outperformed the sector so far this year, is Stantec (STN). The stock has returned 3.1% year-to-date.In Stantec's case, the consensus EPS estimate for the current year increased 3.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, Palantir Technologies Inc. is a member of the Technology Services industry, which includes 151 individual companies and currently sits at #73 in the Zacks Industry Rank. On average, this group has lost an average of 3.2% so far this year, meaning that PLTR is performing better in terms of year-to-date returns.In contrast, Stantec falls under the Consulting Services industry. Currently, this industry has 13 stocks and is ranked #174. Since the beginning of the year, the industry has moved -6.2%.Investors with an interest in Business Services stocks should continue to track Palantir Technologies Inc. and Stantec. These stocks will be looking to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 Stantec Inc. (STN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks