Planet Labs PBC (NYSE: PL) stock fell -2.26% on Tuesday to $4.76 against a previous-day closing price of $4.87. With 1.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.65 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $4.8200 whereas the lowest price it dropped to was $4.6900. The 52-week range on PL shows that it touched its highest point at $7.51 and its lowest point at $3.70 during that stretch. It currently has a 1-year price target of $9.38.
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 down-trending over the past week, with a drop of -5.56%, but this was down by -1.45% over a month. Three-month performance dropped to -0.21% while six-month performance fell -3.45%. The stock lost -20.80% in the past year, while it has gained 9.43% so far this year. A look at the trailing 12-month EPS for PL yields -0.65 with Next year EPS estimates of -0.52. For the next quarter, that number is -0.17. This implies an EPS growth rate of -14.90% for this year and 16.10% for next year.
Float and Shares Shorts:
At present, 267.95 million PL shares are outstanding with a float of 241.19 million shares on hand for trading. On Oct 13, 2022, short shares totaled 9.38 million, which was 3.48% higher than short shares on Sep 14, 2022. In addition to Mr. William Spencer Marshall as the firm’s Co-Founder, CEO & Chairman, Mr. Robert Henry Schingler Jr. serves as its Co-Founder, Chief Strategy Officer & Director.
Through their ownership of 39.46% of PL’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 18.55% of PL, in contrast to 11.62% held by mutual funds. Shares owned by individuals account for 0.66%. As the largest shareholder in PL with 6.58% of the stake, The Vanguard Group, Inc. holds 16,501,529 shares worth 16,501,529. A second-largest stockholder of PL, BlackRock Fund Advisors, holds 9,148,420 shares, controlling over 3.65% of the firm’s shares. Canada Pension Plan Investment Bo is the third largest shareholder in PL, holding 7,800,000 shares or 3.11% stake. With a 3.11% 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 Vanguard Total Stock Market Index, which owns about 2.27% of PL stock, is the second-largest Mutual Fund holder. It holds 5,705,087 shares valued at 24.82 million. Vanguard Small Cap Index Fund holds 1.92% of the stake in PL, owning 4,809,708 shares worth 20.92 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PL since 9 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 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 $6.00, the average target price over the next 12 months is $9.00. Based on these targets, PL could surge 152.1% to reach the target high and rise by 26.05% to reach the target low. Reaching the average price target will result in a growth of 89.08% 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 -$0.33 being high and -$0.54 being low. For PL, this leads to a yearly average estimate of -$0.40. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Planet Labs PBC surprised analysts by $0.05 when it reported -$0.08 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.12. The average estimate for the next quarter is thus -$0.10.