In the last trading session, 3.0 million shares of the Planet Labs PBC (NYSE:PL) were traded, and its beta was 1.07. Most recently the company’s share price was $3.18, and it changed around $0.13 or 4.26% from the last close, which brings the market valuation of the company to $933.25M. PL currently trades at a discount to its 52-week high of $3.30, offering almost -3.77% off that amount. The share price’s 52-week low was $1.67, which indicates that the current value has risen by an impressive 47.48% since then. We note from Planet Labs PBC’s average daily trading volume that its 10-day average is 3.27 million shares, with the 3-month average coming to 2.54 million.
Planet Labs PBC stock received a consensus recommendation rating of Buy, based on a mean score of 1.44. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended PL as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Planet Labs PBC is expected to report earnings per share of -0.04 for the current quarter.
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Planet Labs PBC (NYSE:PL) trade information
Instantly PL has showed a green trend with a performance of 4.26% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 3.30 on recent trading dayincreased the stock’s daily price by 3.64%. The company’s shares are currently up 28.74% year-to-date, but still up 20.91% over the last five days. On the other hand, Planet Labs PBC (NYSE:PL) is 39.47% up in the 30-day period. We can see from the shorts that 5.92 million shares have been sold at a short interest cover period of 3.7 day(s).
The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to increase their stock price by 20.5% from its current value. Analyst projections state that PL is forecast to be at a low of $2 and a high of $5.
Planet Labs PBC (PL) estimates and forecasts
Planet Labs PBC share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 65.63 percent over the past six months and at a 58.00% annual growth rate that is well above the industry average of 25.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 20.38% in revenue this quarter, and will report an increase of 27.43% in the next quarter. The year-over-year growth rate is expected to be 14.05%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 63.12M in revenue for the current quarter. 8 analysts expect Planet Labs PBC to make 66.11M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 55.38M and 58.85M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 13.97%. Forecasts for the next quarter put sales growth at 12.33%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 35.30%. Planet Labs PBC earnings are expected to increase by 10.84% in 2024, but the outlook is positive 25.00% per year for the next five years.
PL Dividends
Planet Labs PBC’s next quarterly earnings report is expected to be released in December.
Planet Labs PBC (NYSE:PL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.77% of Planet Labs PBC shares, and 55.19% of them are in the hands of institutional investors. The stock currently has a share float of 56.76%. Planet Labs PBC stock is held by 233.0 institutions, with ALPHABET INC. being the largest institutional investor. By 2024-06-30, it held 11.0809% of the shares, which is about 31.94 million shares worth $59.41 million.
VANGUARD GROUP INC, with 5.1027% or 14.71 million shares worth $27.36 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 30, 2024 . The former held 6.07 shares worth $19.31 million, making up 2.23% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 5.53 shares worth around $17.58 million, which represents about 2.03% of the total shares outstanding.
