Planet Labs PBC (NYSE:PL) Trading 4.8% Higher – Still a Buy?

Planet Labs PBC (NYSE:PL) shot up 4.8% on Thursday . The stock traded as high as $3.29 and last traded at $3.29. 260,261 shares traded hands during trading, a decline of 85% from the average session volume of 1,789,963 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

A number of analysts recently issued reports on PL shares. Craig Hallum raised their price target on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and set a $4.00 price target on shares of Planet Labs PBC in a report on Thursday, September 26th. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. The Goldman Sachs Group cut their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Needham & Company LLC decreased their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, September 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Planet Labs PBC Stock Up 6.1 %

The business’s 50 day moving average is $2.35 and its 200 day moving average is $2.19. The company has a market cap of $977.29 million, a P/E ratio of -7.09 and a beta of 0.97.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. The firm had revenue of $61.09 million during the quarter, compared to analysts’ expectations of $61.57 million. As a group, equities research analysts forecast that Planet Labs PBC will post -0.41 EPS for the current year.

Institutional Trading of Planet Labs PBC

Institutional investors have recently bought and sold shares of the stock. Perkins Coie Trust Co acquired a new position in Planet Labs PBC in the 2nd quarter worth approximately $28,000. Algert Global LLC acquired a new position in Planet Labs PBC during the second quarter valued at $38,000. Valeo Financial Advisors LLC purchased a new stake in Planet Labs PBC in the third quarter valued at $45,000. Vontobel Holding Ltd. raised its stake in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after buying an additional 10,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at about $52,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

About Planet Labs PBC

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.