Summary
Planet Labs PL has shown a 90.76% gain since the Trend Seeker buy signal on 10/29, driven by strong technical indicators and consistent price appreciation.
The company provides high cadence geospatial data through satellite constellations, serving various sectors including agriculture, energy, finance, and government.
Barchart's technical indicators show 100% buy signals, a 79.49% gain in the last year, and the stock is above its 20, 50, and 100 day moving averages.
Despite strong technicals, analysts have mixed opinions with 7 strong buys but CFRA rates it a sell; MorningStar sees it as 8% undervalued.
The Chart of the Day belongs to the provider of global, daily satellite imagery and geospatial solutions Planet Labs PL. I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 10/29 the stock gained 90.76%.
PL Price vs Daily Moving Averages:
Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables. It serves agriculture, mapping, energy, forestry, finance and insurance companies, and government agencies. The company was founded in 2010 and is headquartered in San Francisco, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 201.83 Weighted Alpha
- 79.49% gain in the last year
- Trend Seeker buy signal
- .97 - 60 month Beta
- Above its 20, 50 and 100 day moving averages
- 14 new highs and up 100.00% in the last month
- Relative Strength Index 87.96%
- Technical support level at $3.83
- Recently traded at $4.46 with 50 day moving average of $2.59
Fundamental Factors:
- Market Cap $1.15 billion
- Revenue expected to grow 14.05% this year and another 16.12% next year
- Earnings are estimated to increase by 20.96% this year and another 45.74% next year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 7 strong buy, 1 buy and 2 hold opinions on the stock
- Analysts' price targets are between $2.50 and $5.00
- Value Line rates the stock its average rating of 3
- CFRA's MarketScope rates the stock a sell
- MorningStar thinks the stock is 8% undervalued
- 6,300 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
