Planet Labs PBC (NYSE:PL) price on Thursday, February 27, fall -3.85% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $4.49.
A look at the stock’s price movement, the close in the last trading session was $4.67. Turning to its 52-week performance, $6.71 and $1.67 were the 52-week high and 52-week low respectively. Overall, PL moved -17.77% over the past month.
Planet Labs PBC’s market cap currently stands at around $1.34 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 61.88M for the company’s revenue for the quarter, with a low and high estimate of 58.9M and 62.97M respectively. The average forecast suggests up to a 5.15% 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 244.7M, representing a 10.88% 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 50% Buy. On the other hand, the stock is on average a 50% 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 -21.63% and -7.50% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.71, while 7-day volatility ratio is 9.17% and 8.93% in the 30-day chart. Further, Planet Labs PBC (PL) has a beta value of 1.45, and an average true range (ATR) of 0.45. Analysts have given the company’s stock an average 52-week price target of $5.65, forecast between a low of $5 and high of $6.3. Looking at the price targets, the low is -11.36% off current price level while to achieve the yearly target high, price needs to move -40.31%. Nonetheless, investors will most likely welcome a -25.84% jump to $5.65 which is the analysts’ median price.
If we refocus on Planet Labs PBC (NYSE:PL), historical trading data shows that trading volumes averaged 6.46 million over the past 3 months. The company’s latest data on shares outstanding shows there are 275.27 million shares.
The 32.61% of Planet Labs PBC’s shares are in the hands of company insiders while institutional holders own 32.24% of the company’s shares. Current price change has pushed the stock 11.14% 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.
