Planet Labs PBC [PL] moved up 3.53: Why It’s Important


Planet Labs PBC [NYSE: PL] closed the trading session at $5.28 on 07/21/22. The day’s price range saw the stock hit a low of $4.99, while the highest price level was $5.28. The company report on July 21, 2022 that NOAA Contracts with Planet to Gain Situational Awareness of Oil Spills, Marine Debris, and Marine Life.

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Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today announced a new contract with the National Oceanic and Atmospheric Administration (NOAA). The organization is leveraging Planet’s PlanetScope and SkySat products to evaluate oil spills, track marine debris, detect vessels, and identify large marine mammals like whales.

In 2004, Hurricane Ivan caused severe damage in the Gulf of Mexico, including the collapse and sinking of an oil platform. Crude oil from this platform continued to leak for over a decade, in what would become the longest running oil spill in United States history. NOAA began tracking the region with government-provided satellite data to generate reports on the situation. In 2018, NOAA reached out to Planet to explore how having a perspective of change on a near-daily basis around the platform could help inform their work.

The stocks have a year to date performance of -14.15 percent and weekly performance of 15.79 percent. The stock has been moved at -18.77 percent over the last six months. The stock has performed 6.02 percent around the most recent 30 days and changed -6.22 percent over the most recent 3-months.

If compared to the average trading volume of 3.11M shares, PL reached to a volume of 2362895 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 0.34, with the Price to Sales ratio for PL stock in the period of the last 12 months amounting to 10.65. The Price to Book ratio for the last quarter was 2.21, with the Price to Cash per share for the same quarter was set at 1.83.

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 15.79. With this latest performance, PL shares gained by 6.02% in over the last four-week period, additionally sinking by -18.77% over the last 6 months – not to mention a drop of -46.67% 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 60.89, with the RSI for the last a single of trading hit 71.05, and the three-weeks RSI is set at 55.88 for Planet Labs PBC [PL]. The present Moving Average for the last 50 days of trading for this stock 5.00, while it was recorded at 4.92 for the last single week of trading, and 6.57 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 $276 million, or 32.10% 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 $36.91 million in PL stocks shares; and SPRING CREEK CAPITAL LLC, currently with $26.45 million in PL stock with ownership of nearly 0% of the company’s market capitalization.

73 institutional holders increased their position in Planet Labs PBC [NYSE:PL] by around 21,009,694 shares. Additionally, 66 investors decreased positions by around 8,253,447 shares, while 29 investors held positions by with 24,820,726 shares. The mentioned changes placed institutional holdings at 54,083,867 shares, according to the latest SEC report filing. PL stock had 50 new institutional investments in for a total of 18,297,132 shares, while 36 institutional investors sold positions of 4,597,870 shares during the same period.