Planet Labs PBC (NYSE:PL) Hits New 12-Month High – Should You Buy?
by Danessa Lincoln · The Markets DailyPlanet Labs PBC (NYSE:PL – Get Free Report)’s stock price 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 trading hands. The stock had previously closed at $20.41.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on PL shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Planet Labs PBC in a report on Thursday, December 11th. National Bankshares set a $12.30 price objective on Planet Labs PBC in a research note on Tuesday, December 16th. Needham & Company LLC raised their target price on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley upped their price target on Planet Labs PBC from $4.50 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, December 12th. Finally, Zacks Research cut Planet Labs PBC from a “hold” rating to a “strong sell” rating in a report on Monday, December 22nd. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.74.
Planet Labs PBC Trading Up 5.0%
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 market cap of $6.72 billion, a P/E ratio of -51.01 and a beta of 1.94. The business has a 50-day moving average price of $14.64 and a two-hundred day moving average price of $10.86.
Planet Labs PBC (NYSE:PL – Get Free Report) last posted its quarterly earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share 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 analyst estimates 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. On average, analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.
Insider Transactions at Planet Labs PBC
In other news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $15.50, for a total value of $1,265,668.00. Following the completion of the transaction, the insider owned 1,288,843 shares of the company’s stock, valued at $19,977,066.50. The trade was a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.53% of the company’s stock.
Institutional Investors Weigh In On Planet Labs PBC
Large investors have recently made changes to their positions in the stock. MCF Advisors LLC acquired a new position in Planet Labs PBC during the third quarter worth $32,000. Iron Gate Global Advisors LLC acquired a new stake in Planet Labs PBC in the first quarter valued at $36,000. Larson Financial Group LLC bought a new position in shares of Planet Labs PBC in the 3rd quarter valued at about $39,000. GAMMA Investing LLC increased its stake 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 worth $40,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Planet Labs PBC by 59.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after purchasing an additional 1,337 shares during the last quarter. Institutional investors and hedge funds 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.