Planet Labs PBC (NYSE:PL) Shares Up 5.3% - What's Next?

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock price rose 5.3% during trading on Monday . The stock traded as high as $5.23 and last traded at $5.30. Approximately 1,288,436 shares were traded during trading, a decline of 71% from the average daily volume of 4,473,289 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

PL has been the topic of several analyst reports. Citigroup boosted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Wedbush upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Thursday, June 5th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $6.60.

Planet Labs PBC Trading Up 11.5%

The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -16.79 and a beta of 1.61. The stock's 50 day moving average is $4.15 and its 200 day moving average is $4.29.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The business had revenue of $66.27 million for the quarter, compared to analyst estimates of $62.25 million. On average, equities research analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in shares of Planet Labs PBC by 5.0% during the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company's stock worth $1,161,000 after purchasing an additional 13,580 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Planet Labs PBC by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 573,055 shares of the company's stock worth $2,315,000 after purchasing an additional 23,861 shares in the last quarter. Crown Wealth Group LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $78,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $42,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Planet Labs PBC by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company's stock worth $7,151,000 after purchasing an additional 37,600 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 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.