While Planet Labs PBC has overperformed by 2.54%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PL fell by -30.06%, with highs and lows ranging from $5.00 to $1.99, whereas the simple moving average fell by -10.75% in the last 200 days.
On December 08, 2023, Craig Hallum Downgraded Planet Labs PBC (NYSE: PL) to Hold. A report published by JMP Securities on May 02, 2023, Initiated its previous ‘Mkt Outperform’ rating for PL. Citigroup also rated PL shares as ‘Buy’, setting a target price of $6 on the company’s shares in an initiating report dated April 18, 2023. Morgan Stanley Initiated an Equal-Weight rating on January 23, 2023, and assigned a price target of $6. Deutsche Bank initiated its ‘Buy’ rating for PL, as published in its report on November 07, 2022. Needham’s report from June 15, 2022 suggests a price prediction of $8 for PL shares, giving the stock a ‘Buy’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Planet Labs PBC (PL)
Further, the quarter-over-quarter increase in sales is 11.42%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Planet Labs PBC’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -26.29% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.94, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and PL is recording an average volume of 1.28M. On a monthly basis, the volatility of the stock is set at 4.31%, whereas on a weekly basis, it is put at 5.13%, with a gain of 11.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.93, showing growth from the present price of $2.42, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 41.24%. 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 27.95% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
PL shares are owned by institutional investors to the tune of 27.95% at present.
