In today’s recent session, 2.58 million shares of the Planet Labs PBC (NYSE:PL) have been traded, and its beta is 1.31. Most recently the company’s share price was $4.16, and it changed around -$0.22 or -5.02% from the last close, which brings the market valuation of the company to $1.20B. PL at last check was trading at a discount to its 52-week high of $4.99, offering almost -19.95% off that amount. The share price’s 52-week low was $1.67, which indicates that the recent value has risen by an impressive 59.86% since then. We note from Planet Labs PBC’s average daily trading volume that its 10-day average is 5.78 million shares, with the 3-month average coming to 3.87 million.
Planet Labs PBC stock received a consensus recommendation rating of Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 2 recommended PL as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Planet Labs PBC is expected to report earnings per share of -0.02 for the current quarter.
Planet Labs PBC (NYSE:PL) trade information
Instantly PL has been showing red trend so far today with a performance of -5.02% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.68 on recent trading dayincreased the stock’s daily price by 11.11%. The company’s shares are currently up 68.43% year-to-date, but still up 2.97% over the last five days. On the other hand, Planet Labs PBC (NYSE:PL) is 8.90% up in the 30-day period. We can see from the shorts that 5.29 million shares have been sold at a short interest cover period of 1.67 day(s).
The consensus price target as assigned by Wall Street analysts is $5, which translates to bulls needing to increase their stock price by 16.8% from its current value. Analyst projections state that PL is forecast to be at a low of $5 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 135.03 percent over the past six months and at a 70.00% annual growth rate that is well above the industry average of 25.20%. The year-over-year growth rate is expected to be 10.97%, up from the previous year.
Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 62.2M in revenue for the current quarter. 8 analysts expect Planet Labs PBC to make 64.88M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 58.85M and 60.44M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 5.70%. Forecasts for the next quarter put sales growth at 7.35%.
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 34.21% 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 January.
Planet Labs PBC (NYSE:PL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.73% of Planet Labs PBC shares, and 54.50% of them are in the hands of institutional investors. The stock currently has a share float of 56.03%. Planet Labs PBC stock is held by 231.0 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.
