Planet Labs PBC (NYSE:PL) price on Tuesday, December 24, rose 2.99% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $4.14.
A look at the stock’s price movement, the close in the last trading session was $4.02, moving within a range at $3.95 and $4.14. The beta value (5-Year monthly) was 0.97. Turning to its 52-week performance, $4.99 and $1.67 were the 52-week high and 52-week low respectively. Overall, PL moved 16.81% over the past month.
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Planet Labs PBC’s market cap currently stands at around $1.27 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 62.2M for the company’s revenue for the quarter, with a low and high estimate of 61.6M and 62.97M respectively. The average forecast suggests up to a 5.70% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 244.9M, representing a 10.97% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PL is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 5 recommend PL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PL’s current price about 2.27% and 29.85% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.84, while 7-day volatility ratio is 8.88% and 9.49% in the 30-day chart. Further, Planet Labs PBC (PL) has a beta value of 1.33, and an average true range (ATR) of 0.33. Analysts have given the company’s stock an average 52-week price target of $5, forecast between a low of $5 and high of $5. Looking at the price targets, the low is -20.77% off current price level while to achieve the yearly target high, price needs to move -20.77%. Nonetheless, investors will most likely welcome a -20.77% jump to $5 which is the analysts’ median price.
If we refocus on Planet Labs PBC (NYSE:PL), historical trading data shows that trading volumes averaged 5.5 over the past 10 days and 3.71 million over the past 3 months. The company’s latest data on shares outstanding shows there are 275.27 million shares.
The 33.17% of Planet Labs PBC’s shares are in the hands of company insiders while institutional holders own 28.62% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.29 million on 2024-11-29, giving us a short ratio of 1.67. The data shows that as of 2024-11-29 short interest in Planet Labs PBC (PL) stood at 219.99999999999997 of shares outstanding, with shares short falling to 5.92 million registered in 2024-10-31. Current price change has pushed the stock 65.99% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PL stock continues to rise going into the next quarter.
