Planet Labs PBC (NYSE:PL) finished Thursday with an addition of $0.09 to close at $2.59, an upside of 3.60 percent. An average of 1,615,760 shares of common stock have been traded in the last five days. There was a fall of -$0.09 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 1,980,975 shares traded, while the 50-day average volume stands at 1,583,746.
PL stock has decreased by -21.04% in the last month. The company shares reached their 1-month lowest point of $2.46 on 09/27/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $2.46 and a high of $6.27 in 52 weeks. It has reached a new high 8 times so far this year and lost -40.46% or -$1.76 in price. In spite of this, the price is down -58.69% from the 52-week high.
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Insider Transactions
PL stock investors should be aware that Planet Labs PBC (PL) stock had its last reported insider trading activity 28 days ago on Sep 19. In this transaction, the insider spent $3,280. CFO & COO, Johnson Ashley F., disposed of 1,000 shares at a price of $3.75 on Aug 01. The insider now owns more than $3,750 worth of shares. Prior to that, CFO & COO Johnson Ashley F. went on to Sale 1,000 shares at $3.25 each on Jul 03. An amount of $3,250 was transacted.
Valuation Metrics
Planet Labs PBC (PL) stock’s beta is 0.63. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.54, the price-to-book (PB) ratio at 1.33.
Financial Health
The quick ratio of Planet Labs PBC for the three months ended July 30 was 3.66, and the current ratio was 3.66, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.04 and a total debt to equity ratio of 0.05 for the quarter ending July 30. Its gross profit as reported stood at $94.01 million compared to revenue of $191.26 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$37.98 million in the quarter, while revenues of -$34.44 million were shrunk -4.08%. The analyst consensus anticipated Planet Labs PBC’s latest quarter earnings to come in at -$0.08 per share, but it turned out to be -$0.07, a 12.50% surprise. For the quarter, EBITDA amounted to -$31.12 million. Shareholders own equity worth $285.66 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Planet Labs PBC (PL) price momentum. RSI 9-day as of the close on 28 September was 36.19%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.09%.
As of today, PL’s price is $2.54 -3.36% or -$0.09 from its 5-day moving average. PL is currently trading -21.99% lower than its 20-day SMA and -33.59% lower than its 100-day SMA. However, the stock’s current price level is -25.36% below the SMA50 and -50.85% below the SMA200.
The stochastic %K and %D were 12.90% and 8.39%, respectively, and the average true range (ATR) was 0.13. With the 14-day stochastic at 27.37% and the average true range at 0.14, the RSI (14) stands at 35.61%. The stock has reached -0.08 on the 9-day MACD Oscillator while the 14-day reading was at -0.16.
Analyst Ratings
JMP Securities launched coverage on Planet Labs PBC (NYSE: PL) in its analyst report released on May 02, 2023. The firm assigned the stock a Mkt outperform rating.
What is PL’s price target for the next 12 months?
Analysts predict a range of price targets between $4.00 and $7.00, with a median target of $5.50. Taking a look at these predictions, the average price target given by analysts for Planet Labs PBC (PL) stock is $5.44.
