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Let’s Start With The Stock Forecast For Planet Labs PBC (NYSE: PL)

In the last trading session, 1.3 million Planet Labs PBC (NYSE:PL) shares changed hands as the company’s beta touched 0.77. With the company’s per share price at $2.40 changed hands at $0.08 or 3.45% during last session, the market valuation stood at $685.58M. PL’s last price was a discount, traded about -108.33% off its 52-week high of $5.00. The share price had its 52-week low at $1.99, which suggests the last value was 17.08% up since then. When we look at Planet Labs PBC’s average trading volume, we note the 10-day average is 1.12 million shares, with the 3-month average coming to 0.91.

Planet Labs PBC (NYSE:PL) trade information

Instantly PL was in green as seen at the end of in last trading. With action 11.63%, the performance over the past five days has been green. The jump to weekly highs of 2.42 added 3.45% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.83%, with the 5-day performance at 11.63% in the green. However, in the 30-day time frame, Planet Labs PBC (NYSE:PL) is 10.09% up. Looking at the short shares, we see there were 6.64 million shares sold at short interest cover period of 5.47 days.

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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 -31.43% over the past 6 months, a 13.11% in annual growth rate that is considerably lower than the industry average of 20.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Planet Labs PBC will rise 57.10%, while the growth in revenue is estimated to hit 14.30% for the next quarter. Year-over-year growth is forecast to reach 15.00% up from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $58.19 million. 8 analysts are of the opinion that Planet Labs PBC’s revenue for the quarter ending Apr 2024 will be $60.27 million. The company’s revenue for the corresponding quarters a year ago was $52.98 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 9.80%.

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 2024 estimates are for Planet Labs PBC earnings to increase by 16.78%, but the outlook for the next 5-year period is at 25.00% per year.

PL Dividends

Planet Labs PBC is expected to release its next quarterly earnings report between March 27 and April 01.

Planet Labs PBC (NYSE:PL)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.72% of Planet Labs PBC shares while 52.72% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 54.20%. There are 52.72% institutions holding the Planet Labs PBC stock share, with Alphabet Inc. the top institutional holder. As of Dec 30, 2023, the company held 11.99% of the shares, roughly 31.94 million PL shares worth $76.66 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.67% or 17.77 million shares worth $42.66 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.8 million shares estimated at $13.92 million under it, the former controlled 2.18% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.84% of the shares, roughly 4.91 million shares worth around $11.78 million.

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