Needham lifts Planet Labs PBC [PL] price estimate. Who else is bullish?

Planet Labs PBC [NYSE: PL] closed the trading session at $4.97 on 06/23/22. The day’s price range saw the stock hit a low of $4.80, while the highest price level was $5.1201. The company report on June 14, 2022 that Planet and Bayer Expand Strategic Relationship.

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The mutual commitment seeks creative digital solutions to support sustainable agriculture.

Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, and Bayer, a global company with core competencies in the life science fields of healthcare and nutrition, today announced an expansion of their strategic relationship. This expansion signals a significant scale up between the two companies. In addition to licensing Planet’s Fusion product, Planet will provide SkySat data and professional services to Bayer to create collaborative solutions that help optimize seed production, improve supply chain efficiency and support sustainable agriculture.

The stocks have a year to date performance of -19.19 percent and weekly performance of 8.99 percent. The stock has been moved at -27.34 percent over the last six months. The stock has performed -2.93 percent around the most recent 30 days and changed -6.40 percent over the most recent 3-months.

If compared to the average trading volume of 2.62M shares, PL reached to a volume of 3475201 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Planet Labs PBC [PL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PL shares is $10.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PL stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Planet Labs PBC shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 15, 2022. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on January 27, 2022, representing the official price target for Planet Labs PBC stock. Previously, the target price had yet another raise to $11, while Goldman analysts kept a Buy rating on PL stock.

The Average True Range (ATR) for Planet Labs PBC is set at 0.47, with the Price to Sales ratio for PL stock in the period of the last 12 months amounting to 9.24. The Price to Book ratio for the last quarter was 2.08, with the Price to Cash per share for the same quarter was set at 1.99.

PL stock trade performance evaluation

Planet Labs PBC [PL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.99. With this latest performance, PL shares dropped by -2.93% in over the last four-week period, additionally sinking by -27.34% over the last 6 months – not to mention a drop of -49.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PL stock in for the last two-week period is set at 46.04, with the RSI for the last a single of trading hit 44.50, and the three-weeks RSI is set at 47.11 for Planet Labs PBC [PL]. The present Moving Average for the last 50 days of trading for this stock 5.18, while it was recorded at 4.91 for the last single week of trading, and 7.07 for the last 200 days.

Planet Labs PBC [PL]: An insightful look at the core fundamentals

Planet Labs PBC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.10.

Earnings per share (EPS) analysis for Planet Labs PBC [PL] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Planet Labs PBC go to 30.00%.

Planet Labs PBC [PL]: Insider Ownership positions

There are presently around $265 million, or 31.80% of PL stock, in the hands of institutional investors. The top three institutional holders of PL stocks are: CANADA PENSION PLAN INVESTMENT BOARD with ownership of 7,800,000, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; CAPRICORN INVESTMENT GROUP LLC, holding 7,238,030 shares of the stock with an approximate value of $35.25 million in PL stocks shares; and SPRING CREEK CAPITAL LLC, currently with $25.26 million in PL stock with ownership of nearly 0% of the company’s market capitalization.

85 institutional holders increased their position in Planet Labs PBC [NYSE:PL] by around 28,876,688 shares. Additionally, 64 investors decreased positions by around 8,242,514 shares, while 22 investors held positions by with 17,323,447 shares. The mentioned changes placed institutional holdings at 54,442,649 shares, according to the latest SEC report filing. PL stock had 61 new institutional investments in for a total of 25,974,642 shares, while 38 institutional investors sold positions of 4,910,522 shares during the same period.


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