Planet Labs PBC (NYSE:PL) Reaches New 12-Month High – Still a Buy?

Planet Labs PBC (NYSE:PL)’s stock price hit a new 52-week high during mid-day trading 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 Upgrades and Downgrades

A number of brokerages have weighed in on PL. Morgan Stanley boosted their price target on Planet Labs PBC from $4.50 to $20.00 and gave the stock an “equal weight” rating in a research report on Friday, December 12th. The Goldman Sachs Group reissued a “neutral” rating on shares of Planet Labs PBC in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Wednesday, October 8th. Needham & Company LLC raised their price target on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Northland Securities set a $17.00 price objective on shares of Planet Labs PBC in a report on Thursday, December 11th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.74.

Planet Labs PBC Trading Up 5.0%

The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of -51.01 and a beta of 1.94. The firm has a fifty day moving average price of $14.64 and a 200-day moving average price of $10.86.

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

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 1,288,843 shares in the company, valued at $19,977,066.50. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Planet Labs PBC

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Planet Labs PBC by 2.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock worth $406,000 after buying an additional 781 shares during the last quarter. Victory Capital Management Inc. grew its position in Planet Labs PBC by 3.6% in the third quarter. Victory Capital Management Inc. now owns 25,855 shares of the company’s stock valued at $336,000 after acquiring an additional 896 shares during the last quarter. Ariadne Wealth Management LP raised its stake in Planet Labs PBC by 8.8% during the third quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company’s stock worth $145,000 after acquiring an additional 905 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Planet Labs PBC by 4.5% in the third quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock worth $281,000 after acquiring an additional 925 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of Planet Labs PBC by 0.8% in the 3rd quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,114 shares in 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.