Craig Hallum has recently reduced Planet Labs PBC (PL) stock to Hold rating, as announced on December 8, 2023, according to Finviz. Earlier, on May 2, 2023, JMP Securities had initiated the stock to Mkt Outperform, setting a price target of $5.50. Citigroup also initiated Buy rating with a price target of $6. Additionally, Morgan Stanley initiated their coverage on January 23, 2023, with a target price of $6. Deutsche Bank analysts, in their report published on November 7, 2022, also initiated Buy rating and set a price target of $7 for Planet Labs PBC’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Planet Labs PBC (PL) Stock Trading Recap
On Friday, Planet Labs PBC (PL) stock saw a decline, ending the day at $2.69 which represents a decrease of $-0.06 or -2.18% from the prior close of $2.75. The volume of shares traded was 1.87 million falling short of the average volume of 2.09 million.
PL Stock Performance and Moving Averages
In recent trading, Planet Labs PBC (PL) stock price has shown some volatility, fluctuating -1.82% over the last five trades and 16.96% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 19.56%, and it has gained 44.62% in the previous three months. Currently, PL is trading at 12.95%, 22.25%, and 23.45% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, PL, a Industrials sector stock, is trading -20.18% below its 52-week high but remains 61.08% above its 52-week low. The Average True Range (ATR) (14 days) of 0.18 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Planet Labs PBC’s Profitability and Valuation Ratios
Planet Labs PBC’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -69.88% and a profit margin of -59.26%, with a gross margin of 19.56%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Planet Labs PBC’s market capitalization stands at $782.17 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 3.42, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.56, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 33.93% of Planet Labs PBC (PL)’s shares, while financial institutions hold 26.24%.
