Needham has recently reiterated Planet Labs PBC (PL) stock to Buy rating, as announced on September 6, 2024, according to Finviz. Earlier, on December 8, 2023, Craig Hallum had reduced the stock from a Buy to Hold. JMP Securities also initiated Mkt Outperform rating with a price target of $5.50. Additionally, Citigroup initiated Buy rating on April 18, 2023, with a target price of $6. Morgan Stanley analysts, in their report published on January 23, 2023, also initiated their coverage and set a price target of $6 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 modest uptick, ending the day at $2.15 which represents a slight increase of $0.10 or 4.88% from the prior close of $2.05. The stock opened at $2.09 and touched a low of $2.05 during the day, reaching a high of $2.16. The volume of shares traded was 1.90 million falling short of the average volume of 2.41 million.
PL Stock Performance and Moving Averages
In recent trading, Planet Labs PBC (PL) stock price has shown some volatility, fluctuating 20.79% over the last five trades and 3.37% 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 -0.46%, and it has gained 13.16% in the previous three months. Currently, PL is trading at -11.54%, -4.81%, and -0.95% 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 -26.62% below its 52-week high but remains 28.74% above its 52-week low. The Average True Range (ATR) (14 days) of 0.2 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 -60.82% and a profit margin of -57.71%, with a gross margin of -0.46%. 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 $630.98 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 2.68, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.33, 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 33.88% of Planet Labs PBC (PL)’s shares, while financial institutions hold 26.00%.
