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

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PL. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday, January 13th. Cantor Fitzgerald raised their price objective 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. National Bank Financial set a $12.30 price objective on shares of Planet Labs PBC in a research report on Tuesday, December 16th. Needham & Company LLC raised their price objective on shares of Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Wedbush raised their price objective 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. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.70.

Planet Labs PBC Stock Performance

The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The company’s fifty day moving average is $26.53 and its 200 day moving average is $19.98. The company has a market cap of $12.64 billion, a P/E ratio of -46.82 and a beta of 1.83.

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

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $7,020,000.00. Following the sale, the chief financial officer owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the firm’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the completion of the sale, the director directly owned 222,897 shares in the company, valued at approximately $6,009,303.12. This trade represents a 17.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 418,566 shares of company stock valued at $12,916,276. Insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its holdings in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 745 shares during the last quarter. MCF Advisors LLC bought a new stake in Planet Labs PBC in the 3rd quarter worth $32,000. Baillie Gifford & Co. bought a new stake in Planet Labs PBC in the 4th quarter worth $32,000. Larson Financial Group LLC bought a new stake in Planet Labs PBC in the 3rd quarter worth $39,000. Finally, GAMMA Investing LLC grew its holdings in Planet Labs PBC by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

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.