Planet Labs PBC (NYSE:PL) Trading Up 1.5% on Analyst Upgrade

Key Points

• Planet Labs shares rose 1.5% after Craig Hallum boosted its price target from $36 to $49 and reiterated a buy rating. The stock traded as high as $34.04 on heavier-than-usual volume.
• Analyst sentiment is mixed overall, with several firms adjusting targets and ratings, but the current consensus from MarketBeat data is Hold with a $35.11 average target price. Six analysts rate it Buy, while three each rate it Hold or Sell.
• Recent earnings showed strong revenue growth, with quarterly revenue of $94.15 million, up 42.1% year over year, and EPS beating expectations by $0.01. However, the company remains unprofitable, and some investors remain focused on losses and margin pressure.

Planet Labs PBC (NYSE:PL - Get Free Report)'s share price was up 1.5% on Monday after Craig Hallum raised their price target on the stock from $36.00 to $49.00. Craig Hallum currently has a buy rating on the stock. Planet Labs PBC traded as high as $34.04 and last traded at $32.7140. Approximately 20,009,720 shares were traded during trading, an increase of 50% from the average daily volume of 13,314,154 shares. The stock had previously closed at $32.22.

Several other research firms have also weighed in on PL. The Goldman Sachs Group lifted their price objective on shares of Planet Labs PBC from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Zacks Research lowered shares of Planet Labs PBC from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Northland Securities set a $50.00 price objective on shares of Planet Labs PBC in a research note on Friday. Weiss Ratings lowered shares of Planet Labs PBC from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price objective on shares of Planet Labs PBC and gave the stock a "buy" rating in a research note on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.11.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $35.07, for a total value of $2,584,062.81. Following the transaction, the insider owned 256,488 shares of the company's stock, valued at approximately $8,995,034.16. The trade was a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. The trade was a 9.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 16.42% of the company's stock.

Key Planet Labs PBC News

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

• Positive Sentiment: Planet Labs drew bullish interest after reporting record quarterly revenue of about $94.2 million, 42% year-over-year growth, and a backlog above $906 million, which supports the case for continued top-line expansion. Article: PL Q1 Earnings Call Highlights Defense and AI Push
• Positive Sentiment: Analysts and market commentators are highlighting Planet Labs as a potential second-half catalyst, pointing to strong results and upside potential as investors look for stocks with fresh growth drivers. Article: 3 Stocks With Fresh Catalysts to Watch Before the July 4
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in PL, which can reinforce bullish sentiment around the stock. Related Market Activity
• Neutral Sentiment: Several valuation-focused pieces are reminding investors that Planet Labs has rallied sharply, so the stock may now be more sensitive to execution and guidance than to the recent headlines alone. Article: Assessing Planet Labs (PL) Valuation After Sharp Short Term Share Price Volatility
• Negative Sentiment: Some investors are still focusing on Planet Labs’ ongoing losses, margin pressure, and capital intensity, with concerns that profitability remains distant despite strong revenue growth. Article: Planet Labs' 25% Decline Sparks Big Question - Buy Or Bail? I See Opportunity

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PL. Van ECK Associates Corp boosted its holdings in Planet Labs PBC by 320.3% during the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company's stock worth $151,429,000 after purchasing an additional 5,851,758 shares during the last quarter. Barclays PLC boosted its holdings in Planet Labs PBC by 758.1% during the third quarter. Barclays PLC now owns 3,727,743 shares of the company's stock worth $48,386,000 after purchasing an additional 3,293,333 shares during the last quarter. Invesco Ltd. boosted its holdings in Planet Labs PBC by 265.6% during the third quarter. Invesco Ltd. now owns 3,450,479 shares of the company's stock worth $44,787,000 after purchasing an additional 2,506,595 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Planet Labs PBC by 257.5% during the third quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company's stock worth $30,662,000 after purchasing an additional 1,701,535 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Planet Labs PBC by 9.7% during the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company's stock worth $240,801,000 after purchasing an additional 1,637,880 shares during the last quarter. Institutional investors own 41.71% of the company's stock.

Planet Labs PBC Stock Performance

The stock's 50 day moving average price is $38.79 and its 200 day moving average price is $27.74. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of -28.70 and a beta of 1.99.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The company had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.39 million. Planet Labs PBC's quarterly revenue was up 42.1% on a year-over-year basis. Analysts expect that Planet Labs PBC will post -0.45 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.

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