Planet Labs PBC (NYSE:PL) shares, rose in value, with the stock price up by 0.96% to the previous day’s close as strong demand from buyers drove the stock to $2.10.
Actively observing the price movement in the last trading, the stock closed the session at $2.08. The value of beta (5-year monthly) was 0.74. Referring to stock’s 52-week performance, its high was $5.00, and the low was $1.99. On the whole, PL has fluctuated by -3.23% over the past month.
With the market capitalization of Planet Labs PBC currently standing at about $599.89 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.06, which is expected to increase to -$0.05 for fiscal year -$0.22 and then to about -$0.11 by fiscal year 2026. Data indicates that the EPS growth is expected to be 12.00% in 2026, while the next year’s EPS growth is forecast to be 50.00%.
Analysts have estimated the company’s revenue for the quarter at $59.74 million, with a low estimate of $57.84 million and a high estimate of $61.06 million. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $256.95 million, representing an increase of 16.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PL currently trading nearly -8.56% and -7.14% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.36, while the 7-day volatility ratio is showing 6.93% which for the 30-day chart, stands at 5.12%. Furthermore, Planet Labs PBC (PL)’s beta value is 0.83, and its average true range (ATR) is 0.12.
A comparison of Planet Labs PBC (PL) with its peers suggests the former has fared considerably weaker in the market. PL showed an intraday change of 0.96% in last session, and over the past year, it shrunk by -43.55%%.
Data on historical trading for Planet Labs PBC (NYSE:PL) indicates that the trading volumes over the past 10 days have averaged 1.8 million and over the past 3 months, they’ve averaged 1.27 million. According to company’s latest data on outstanding shares, there are 268.12 million shares outstanding.
Nearly 33.66% of Planet Labs PBC’s shares belong to company insiders and institutional investors own 27.95% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.29 million shares as on Mar 15, 2024, resulting in a short ratio of 6.64. According to the data, the short interest in Planet Labs PBC (PL) stood at 2.53% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 7.06 million. The stock has fallen by -14.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PL stock heading into the next quarter.
