The share price of Planet Labs PBC (NYSE:PL) rose to $5.36 per share on Wednesday from $5.17. While Planet Labs PBC has overperformed by 3.68%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PL fell by -53.02%, with highs and lows ranging from $11.90 to $3.70, whereas the simple moving average jumped by 0.69% in the last 200 days.
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On November 07, 2022, Deutsche Bank started tracking Planet Labs PBC (NYSE: PL) recommending Buy. A report published by Needham on June 15, 2022, Reiterated its previous ‘Buy’ rating for PL. Needham also rated PL shares as ‘Buy’, setting a target price of $10.50 on the company’s shares in an initiating report dated January 27, 2022. Goldman Initiated an Buy rating on January 12, 2022, and assigned a price target of $11. Wedbush initiated its ‘Outperform’ rating for PL, as published in its report on January 07, 2022. Piper Sandler’s report from January 07, 2022 suggests a price prediction of $10 for PL shares, giving the stock a ‘Overweight’ rating.
Analysis of Planet Labs PBC (PL)
Further, the quarter-over-quarter increase in sales is 60.10%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Planet Labs PBC’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. Taking into account the quick ratio of the company, currently set at 4.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and PL is recording an average volume of 2.19M. On a monthly basis, the volatility of the stock is set at 5.03%, whereas on a weekly basis, it is put at 5.34%, with a loss of -4.29% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.44, showing growth from the present price of $5.36, which can serve as yet another indication of whether PL is worth investing in or should be passed over.
How Do You Analyze Planet Labs PBC Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 44.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in PL shares?
The recent increase in stakes in PL appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in PL has increased by 187.15% in the first quarter. The company now owns 16,501,529 shares of the stock, with a value of $86.63 million, following the purchase of 10,754,920 additional shares during the last quarter. BlackRock Fund Advisors made another decreased to its shares in PL during the first quarter, downing its stake by -1.59%.
At the end of the first quarter, SSgA Funds Management, Inc. increased its PL holdings by 2.00% and now holds 4.15 million PL shares valued at $21.76 million with the added 81445.0 shares during the period. PL shares are owned by institutional investors to the tune of 44.60% at present.