Planet Labs PBC (NYSE:PL) Stock Price Up 3.8% – What’s Next?

Shares of Planet Labs PBC (NYSE:PL) rose 3.8% during mid-day trading on Wednesday . The company traded as high as $38.21 and last traded at $36.5220. Approximately 16,075,362 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 14,097,003 shares. The stock had previously closed at $35.17.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and set a $16.40 target price on shares of Planet Labs PBC in a research report on Tuesday, January 20th. Cantor Fitzgerald increased their target price on shares of Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Wedbush increased their target price on shares of Planet Labs PBC from $30.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, March 20th. Finally, Morgan Stanley increased their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.70.

Planet Labs PBC Stock Up 3.8%

The company has a market capitalization of $12.64 billion, a PE ratio of -46.82 and a beta of 1.83. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.64 and a current ratio of 1.65. The stock’s 50 day moving average is $26.53 and its 200 day moving average is $19.98.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.43). The business had revenue of $86.82 million for the quarter, compared to analysts’ expectations of $78.17 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The business’s quarterly revenue was up 41.1% on a year-over-year basis. On average, sell-side analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, Director Kristen Robinson sold 47,835 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total value of $1,289,631.60. Following the sale, the director directly owned 222,897 shares in the company, valued at $6,009,303.12. This represents a 17.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vijaya Gadde sold 20,000 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the completion of the sale, the director owned 250,169 shares in the company, valued at $6,697,024.13. This represents a 7.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 418,566 shares of company stock worth $12,916,276. 17.53% of the stock is owned by corporate insiders.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in Planet Labs PBC in the 4th quarter worth approximately $8,457,000. Osbon Capital Management LLC purchased a new stake in Planet Labs PBC in the 4th quarter worth approximately $554,000. Caitong International Asset Management Co. Ltd lifted its stake in Planet Labs PBC by 5,433.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 61,860 shares of the company’s stock worth $1,220,000 after purchasing an additional 60,742 shares in the last quarter. Virtue Capital Management LLC lifted its stake in Planet Labs PBC by 1,837.6% in the 4th quarter. Virtue Capital Management LLC now owns 83,296 shares of the company’s stock worth $1,700,000 after purchasing an additional 78,997 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in Planet Labs PBC by 9.5% in the 4th quarter. Mackenzie Financial Corp now owns 14,631 shares of the company’s stock worth $288,000 after purchasing an additional 1,267 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Planet Labs PBC Company Profile

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.