Planet Labs PBC (NYSE:PL) Shares Up 9.2% – Still a Buy?

Shares of Planet Labs PBC (NYSE:PL) traded up 9.2% on Thursday . The stock traded as high as $29.35 and last traded at $29.20. 13,755,713 shares were traded during trading, an increase of 2% from the average session volume of 13,463,469 shares. The stock had previously closed at $26.73.

Analyst Ratings Changes

Several equities analysts recently issued reports on PL shares. JMP Securities reiterated a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Craig Hallum reissued a “buy” rating and set a $30.00 price objective on shares of Planet Labs PBC in a research report on Tuesday. Zacks Research cut shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on Planet Labs PBC from $20.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday. Eight investment 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. Based on data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Hold” and a consensus price target of $19.66.

Planet Labs PBC Stock Performance

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 stock has a 50 day simple moving average of $16.32 and a two-hundred day simple moving average of $11.83. The stock has a market capitalization of $8.88 billion, a P/E ratio of -67.37 and a beta of 1.94.

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

Insider Transactions at Planet Labs PBC

In related news, insider Robert H. Schingler sold 73,782 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $19.35, for a total value of $1,427,681.70. Following the completion of the sale, the insider directly owned 1,164,729 shares in the company, valued at approximately $22,537,506.15. This trade represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently modified their holdings of PL. MCF Advisors LLC bought a new position in Planet Labs PBC during the third quarter worth about $32,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $39,000. GAMMA Investing LLC increased its holdings in shares of Planet Labs PBC by 146.4% during the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after purchasing an additional 1,195 shares during the period. Jones Financial Companies Lllp raised its position in shares of Planet Labs PBC by 59.3% in the third quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after buying an additional 1,337 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $56,000. 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.