This trade activity should not be overlooked: Planet Labs PBC (PL)

Planet Labs PBC (NYSE: PL) stock jumped 1.75% on Friday to $5.83 against a previous-day closing price of $5.73. With 1.08 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.12 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $5.91 whereas the lowest price it dropped to was $5.73. The 52-week range on PL shows that it touched its highest point at $12.15 and its lowest point at $3.70 during that stretch. It currently has a 1-year price target of $10.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PL was up-trending over the past week, with a rise of 13.42%, but this was up by 26.46% over a month. Three-month performance surged to 21.46% while six-month performance fell -9.05%. The stock lost -40.99% in the past year, while it has lost -5.20% so far this year. A look at the trailing 12-month EPS for PL yields -4.28 with Next year EPS estimates of -0.48. For the next quarter, that number is -0.16. This implies an EPS growth rate of -14.90% for this year and 25.90% for next year.

Float and Shares Shorts:

At present, 264.09 million PL shares are outstanding with a float of 208.62 million shares on hand for trading. On Jul 14, 2022, short shares totaled 10.72 million, which was 3.99% higher than short shares on Jun 14, 2022. In addition to Mr. William Spencer Marshall as the firm’s Co-Founder, CEO & Director, Mr. Robert Henry Schingler Jr. serves as its Co-Founder, Chief Strategy Officer & Director.

Institutional Ownership:

Through their ownership of 32.46% of PL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.28% of PL, in contrast to 12.15% held by mutual funds. Shares owned by individuals account for 0.60%. As the largest shareholder in PL with 3.15% of the stake, Canada Pension Plan Investment Bo holds 7,800,000 shares worth 7,800,000. A second-largest stockholder of PL, Koch Industries, Inc., holds 5,187,000 shares, controlling over 2.10% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PL, holding 2,489,997 shares or 1.01% stake. With a 3.15% stake in PL, the Canada Pension Plan is the largest stakeholder. A total of 7,800,000 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.41% of PL stock, is the second-largest Mutual Fund holder. It holds 3,491,845 shares valued at 15.12 million. Vanguard Extended Market Index Fu holds 0.99% of the stake in PL, owning 2,438,177 shares worth 10.56 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Apr 29, 2022, PL reported revenue of $40.13M and operating income of -$47.71M. Over the past year, revenue came in at $139.38M while operating income stood at -$157.50M. It generated -$44.36M net income for the quarter, which came to -$152.23M over the last twelve months. The EBITDA in the recently reported quarter was -$35.70M and diluted EPS was -$0.17. EBITDA for the full year was -$113.74M.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PL since 7 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PL analysts setting a high price target of $12.00 and a low target of $8.00, the average target price over the next 12 months is $10.00. Based on these targets, PL could surge 105.83% to reach the target high and rise by 37.22% to reach the target low. Reaching the average price target will result in a growth of 71.53% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PL will report FY 2023 earnings on 03/30/2023. Analysts have provided yearly estimates in a range of -$0.38 being high and -$0.71 being low. For PL, this leads to a yearly average estimate of -$0.50. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Planet Labs PBC surprised analysts by $0.03 when it reported -$0.09 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was $0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.19. The average estimate for the next quarter is thus -$0.14.

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