Planet Labs PBC (NYSE:PL) Reaches New 1-Year High – What’s Next?

Planet Labs PBC (NYSE:PL) shares reached a new 52-week high on Monday . The stock traded as high as $21.14 and last traded at $20.7360, with a volume of 6287236 shares changing hands. The stock had previously closed at $20.41.

Analyst Ratings Changes

Several analysts have recently commented on the company. JMP Securities restated a “market perform” rating on shares of Planet Labs PBC in a research note on Tuesday, October 21st. The Goldman Sachs Group reissued a “neutral” rating on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Needham & Company LLC boosted their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citizens Jmp cut Planet Labs PBC from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Finally, Northland Securities set a $17.00 price target on shares of Planet Labs PBC in a research report on Thursday, December 11th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC has a consensus rating of “Hold” and an average target price of $14.74.

Planet Labs PBC Stock Performance

The company has a market cap of $7.11 billion, a PE ratio of -54.00 and a beta of 1.94. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average of $15.18 and a 200-day moving average of $11.17.

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

Insider Buying and Selling at Planet Labs PBC

In related news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the transaction, the insider directly owned 1,288,843 shares in the company, valued at approximately $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.53% of the stock is owned by insiders.

Institutional Trading of Planet Labs PBC

Several hedge funds have recently added to or reduced their stakes in the stock. MCF Advisors LLC bought a new position in shares of Planet Labs PBC during the 3rd quarter valued at approximately $32,000. Iron Gate Global Advisors LLC purchased a new position in Planet Labs PBC in the first quarter valued at approximately $36,000. Larson Financial Group LLC bought a new position in Planet Labs PBC during the third quarter valued at $39,000. GAMMA Investing LLC grew its holdings in Planet Labs PBC by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the period. Finally, Jones Financial Companies Lllp increased its position in Planet Labs PBC by 59.3% in the third quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after buying an additional 1,337 shares during the last quarter. 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.