Planet Labs PBC (NYSE:PL) Sets New 52-Week High Following Analyst Upgrade

Planet Labs PBC (NYSE:PL) reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $26.00 to $35.00. Morgan Stanley currently has an equal weight rating on the stock. Planet Labs PBC traded as high as $37.05 and last traded at $35.2330, with a volume of 24826103 shares. The stock had previously closed at $31.83.

PL has been the subject of a number of other research reports. National Bank Financial set a $12.30 target price on Planet Labs PBC in a report on Tuesday, December 16th. Zacks Research raised Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Needham & Company LLC increased their price objective on Planet Labs PBC to $40.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Citigroup raised their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Planet Labs PBC has an average rating of “Hold” and a consensus price target of $27.25.

Insider Activity at Planet Labs PBC

In related news, Director Vijaya Gadde sold 20,000 shares of Planet Labs PBC stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $26.77, for a total transaction of $535,400.00. Following the completion of the sale, the director owned 250,169 shares of the company’s stock, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $26.96, for a total value of $1,289,631.60. Following the completion of the transaction, the director directly owned 222,897 shares in the company, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 218,566 shares of company stock valued at $5,896,276. Insiders own 17.53% of the company’s stock.

Key Planet Labs PBC News

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: European manufacturing expansion — Planet has started recruiting to staff a new Berlin satellite?manufacturing facility, a concrete step toward scaling production and shortening delivery timelines. Article Title
• Positive Sentiment: All?time/high breakout tied to Europe expansion and sector momentum — coverage notes Planet “rocketed” to an all?time high as investors rewarded the European buildout and broader optimism in space stocks. Article Title
• Positive Sentiment: Analyst / media recognition — Planet was cited as a top space?stock to watch and flagged in thematic pieces that boost institutional interest and flows. Article Title
• Positive Sentiment: Analyst target moves and upgrades have supported momentum — media reported an analyst upgrade / 1?year?high note that helped fuel the rally. Article Title
• Neutral Sentiment: Morgan Stanley raised its price target to $35 but left an “equal weight” rating — the higher target is constructive for upside, but the neutral rating tempers the buy?side endorsement. Article Title
• Negative Sentiment: Earnings overhang remains — the company recently reported a sizable EPS miss despite solid revenue growth and margin improvements; that mixed fundamental print can prompt short?term profit?taking after a big run.

Institutional Trading of Planet Labs PBC

Institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after acquiring an additional 745 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Planet Labs PBC during the 4th quarter valued at $32,000. GAMMA Investing LLC raised its holdings in shares of Planet Labs PBC by 146.4% during the 4th 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 in the last quarter. North Star Investment Management Corp. lifted its stake in shares of Planet Labs PBC by 1,111.1% in the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in Planet Labs PBC in the third quarter worth $32,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The stock has a market capitalization of $10.13 billion, a P/E ratio of -41.42 and a beta of 1.95. The stock’s fifty day moving average is $25.71 and its 200-day moving average is $18.58.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share 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 company had revenue of $86.82 million for the quarter, compared to the consensus estimate of $78.17 million. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. On average, equities analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.