Planet Labs PBC (NYSE:PL) Sets New 12-Month High – What’s Next?

Shares of Planet Labs PBC (NYSE:PL) reached a new 52-week high during trading on Wednesday . The company traded as high as $38.21 and last traded at $36.3820, with a volume of 4416561 shares traded. The stock had previously closed at $35.17.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC lifted their price objective on shares of Planet Labs PBC to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Northland Securities set a $28.00 price objective on shares of Planet Labs PBC in a research report on Tuesday, January 13th. Cantor Fitzgerald lifted their price objective on shares of Planet Labs PBC from $20.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Wedbush boosted 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. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Planet Labs PBC currently has an average rating of “Hold” and a consensus price target of $27.70.

Planet Labs PBC Stock Performance

The stock’s 50-day moving average price is $26.53 and its 200-day moving average price is $19.98. The company has a market cap of $12.75 billion, a P/E ratio of -47.20 and a beta of 1.83. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64.

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

Insider Activity

In other news, Director Kristen Robinson sold 47,835 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 222,897 shares of the company’s stock, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ashley F. Johnson sold 200,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the sale, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at approximately $66,520,186.20. The trade was a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 418,566 shares of company stock valued at $12,916,276. 17.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Shields & Co. LLC lifted its position in Planet Labs PBC by 2.8% during the fourth quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock worth $311,000 after purchasing an additional 435 shares during the period. Xponance LLC lifted its position in Planet Labs PBC by 3.1% during the fourth quarter. Xponance LLC now owns 18,656 shares of the company’s stock worth $368,000 after purchasing an additional 555 shares during the period. Wealthfront Advisers LLC lifted its position in Planet Labs PBC by 5.4% during the fourth quarter. Wealthfront Advisers LLC now owns 12,715 shares of the company’s stock worth $251,000 after purchasing an additional 657 shares during the period. Pictet Asset Management Holding SA lifted its position in Planet Labs PBC by 2.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 33,090 shares of the company’s stock worth $653,000 after purchasing an additional 690 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after purchasing an additional 745 shares during the period. Institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

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.