Planet Labs PBC (NYSE:PL) Shares Gap Up to $1.74

Planet Labs PBC (NYSE:PL - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $1.74, but opened at $1.78. Planet Labs PBC shares last traded at $1.74, with a volume of 217,194 shares trading hands.

Analyst Upgrades and Downgrades

PL has been the subject of a number of research reports. Benchmark reduced their target price on shares of Planet Labs PBC from $5.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday, April 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $7.00 target price on shares of Planet Labs PBC in a report on Monday, April 1st. JMP Securities reduced their target price on shares of Planet Labs PBC from $5.50 to $4.00 and set a "market outperform" rating for the company in a report on Monday, April 1st. Citigroup reduced their target price on shares of Planet Labs PBC from $4.50 to $3.90 and set a "buy" rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reduced their target price on shares of Planet Labs PBC from $4.80 to $4.20 and set a "buy" rating for the company in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.68.

Planet Labs PBC Price Performance

The firm's 50-day moving average price is $2.13 and its 200 day moving average price is $2.24. The firm has a market capitalization of $489.69 million, a price-to-earnings ratio of -3.41 and a beta of 0.78.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $58.85 million for the quarter, compared to analyst estimates of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. On average, analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

A number of hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of Planet Labs PBC by 443.2% in the 3rd quarter. GSA Capital Partners LLP now owns 959,144 shares of the company's stock valued at $2,494,000 after purchasing an additional 782,568 shares during the last quarter. King Luther Capital Management Corp acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at $963,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Planet Labs PBC by 78.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,194 shares of the company's stock valued at $1,341,000 after purchasing an additional 252,406 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Planet Labs PBC by 24.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,159,281 shares of the company's stock valued at $2,863,000 after purchasing an additional 230,627 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Planet Labs PBC by 263.5% in the 3rd quarter. Barclays PLC now owns 262,813 shares of the company's stock valued at $683,000 after purchasing an additional 190,510 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 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.