Planet Labs PBC (NYSE:PL) Shares Up 8.3% – What’s Next?

Planet Labs PBC (NYSE:PL)’s share price shot up 8.3% during mid-day trading on Thursday . The company traded as high as $17.95 and last traded at $17.8450. 5,402,692 shares were traded during trading, a decline of 38% from the average session volume of 8,742,907 shares. The stock had previously closed at $16.47.

Analyst Upgrades and Downgrades

PL has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a “neutral” rating on shares of Planet Labs PBC in a research report on Tuesday. Northland Securities set a $17.00 target price on Planet Labs PBC in a research report on Thursday, December 11th. Wedbush raised their price objective on Planet Labs PBC from $17.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Needham & Company LLC increased their target price on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.74.

Planet Labs PBC Price Performance

The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $5.38 billion, a P/E ratio of -41.60 and a beta of 2.00. The company has a 50 day moving average price of $13.24 and a 200 day moving average price of $9.59.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). The business had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the completion of the sale, the insider owned 1,288,843 shares in the company, valued at $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Planet Labs PBC

A number of large investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Planet Labs PBC by 2.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock worth $406,000 after acquiring an additional 781 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Planet Labs PBC by 3.6% during the 3rd quarter. Victory Capital Management Inc. now owns 25,855 shares of the company’s stock valued at $336,000 after purchasing an additional 896 shares during the last quarter. Ariadne Wealth Management LP increased its position in Planet Labs PBC by 8.8% during the 3rd quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company’s stock worth $145,000 after purchasing an additional 905 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Planet Labs PBC by 4.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock worth $281,000 after purchasing an additional 925 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Planet Labs PBC by 0.8% in the 3rd quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,114 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Company Profile

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.