Planet Labs PBC [NYSE: PL] stock went on a downward path that fall over 0.00% on Wednesday, amounting to a one-week price increase of more than 9.95%. The company report on April 12, 2023 that Planet Transforms Transparency to Action with Customers and Partners at Explore 2023.
Broader Accessibility of Satellite Data with APIs and Startup Program Announced at Annual User Conference.
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Planet Labs PBC (NYSE: PL), a leading provider of daily data and insights about Earth, today hosted customers and partners, investors, media, innovators, government officials and more at its annual user conference, Explore 2023. Planet announced enhanced availability for its Planetary Variables data products via API, broadening access for users. The company also renewed its commitment to democratizing access to data with two new programs focused on increasing accessibility and scaling solutions for users in the startup and partner communities.
Over the last 12 months, PL stock dropped by -22.10%. The one-year Planet Labs PBC stock forecast points to a potential upside of 49.57. The average equity rating for PL stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $991.87 million, with 270.19 million shares outstanding and 262.35 million shares in the current float. Compared to the average trading volume of 1.83M shares, PL stock reached a trading volume of 2748234 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $8.11 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 2.00. 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.
Morgan Stanley have made an estimate for Planet Labs PBC shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on November 07, 2022, representing the official price target for Planet Labs PBC stock. Previously, the target price had yet another drop from $10.50 to $8, while Needham kept a Buy rating on PL stock.
The Average True Range (ATR) for Planet Labs PBC is set at 0.24, with the Price to Sales ratio for PL stock in the period of the last 12 months amounting to 5.18. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 1.69.
PL Stock Performance Analysis:
Planet Labs PBC [PL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.95. With this latest performance, PL shares gained by 1.24% in over the last four-week period, additionally sinking by -27.48% over the last 6 months – not to mention a drop of -22.10% 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 54.36, with the RSI for the last a single of trading hit 60.35, and the three-weeks RSI is set at 50.56 for Planet Labs PBC [PL]. The present Moving Average for the last 50 days of trading for this stock 4.26, while it was recorded at 4.03 for the last single week of trading, and 5.01 for the last 200 days.
Insight into Planet Labs PBC Fundamentals:
Planet Labs PBC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 3.90.
PL Stock EPS
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 Position Details
There are presently around $476 million, or 57.00% of PL stock, in the hands of institutional investors. The top three institutional holders of PL stocks are: ALPHABET INC. with ownership of 31,942,641, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 17,293,586 shares of the stock with an approximate value of $70.73 million in PL stocks shares; and BLACKROCK INC., currently with $48.08 million in PL stock with ownership of nearly -2.667% of the company’s market capitalization.
81 institutional holders increased their position in Planet Labs PBC [NYSE:PL] by around 7,329,609 shares. Additionally, 64 investors decreased positions by around 10,794,512 shares, while 55 investors held positions by with 98,357,786 shares. The mentioned changes placed institutional holdings at 116,481,907 shares, according to the latest SEC report filing. PL stock had 35 new institutional investments in for a total of 4,390,783 shares, while 21 institutional investors sold positions of 5,497,279 shares during the same period.