In the last trading session, 1.01 million Planet Labs PBC (NYSE:PL) shares changed hands as the company’s beta touched 0.71. With the company’s per share price at $2.43 changed hands at $0.08 or 3.40% during last session, the market valuation stood at $694.15M. PL’s last price was a discount, traded about -139.09% off its 52-week high of $5.81. The share price had its 52-week low at $2.04, which suggests the last value was 16.05% up since then. When we look at Planet Labs PBC’s average trading volume, we note the 10-day average is 1.2 million shares, with the 3-month average coming to 1.51 million.
Analysts gave the Planet Labs PBC (PL) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.18. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended PL as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Planet Labs PBC’s EPS for the current quarter is expected to be -$0.08.
Planet Labs PBC (NYSE:PL) trade information
Instantly PL was in green as seen at the end of in last trading. With action 8.48%, the performance over the past five days has been green. The jump to weekly highs of 2.55 on Monday, 11/20/23 added 3.40% to the stock’s daily price. The company’s shares are showing year-to-date downside of -44.14%, with the 5-day performance at 8.48% in the green. However, in the 30-day time frame, Planet Labs PBC (NYSE:PL) is 13.55% up. Looking at the short shares, we see there were 7.72 million shares sold at short interest cover period of 5.31 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.44, meaning bulls need an upside of 55.33% from its current market value. According to analyst projections, PL’s forecast low is $4.00 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -188.07% plunge from its current level, while the stock would need to soar -64.61% for it to hit the projected low.
Planet Labs PBC (PL) estimates and forecasts
Data shows that the Planet Labs PBC share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -44.14% over the past 6 months, a 9.84% in annual growth rate that is considerably lower than the industry average of 18.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Planet Labs PBC will rise 46.70%, while the growth in revenue is estimated to hit 57.10% for the next quarter. Year-over-year growth is forecast to reach 15.40% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $55.25 million. 8 analysts are of the opinion that Planet Labs PBC’s revenue for the quarter ending Jan 2024 will be $58.81 million. The estimates for the next quarter sales put growth at 11.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 32.20%. The 2023 estimates are for Planet Labs PBC earnings to increase by 2.57%, but the outlook for the next 5-year period is at 30.00% per year.
Planet Labs PBC is expected to release its next quarterly earnings report on December 07.
Planet Labs PBC (NYSE:PL)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.85% of Planet Labs PBC shares while 55.12% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 56.73%. There are 55.12% institutions holding the Planet Labs PBC stock share, with Alphabet Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.08% of the shares, roughly 31.94 million PL shares worth $102.86 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.75% or 17.85 million shares worth $57.47 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.8 million shares estimated at $18.68 million under it, the former controlled 2.19% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.86% of the shares, roughly 4.91 million shares worth around $15.82 million.