Planet Labs PBC (NYSE:PL) Trading Up 6.4%

Shares of Planet Labs PBC (NYSE:PL) rose 6.4% during mid-day trading on Thursday . The stock traded as high as $2.67 and last traded at $2.67. 425,142 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,557,421 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PL shares. JMP Securities reiterated a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 27th. Craig Hallum lowered their target price on Planet Labs PBC from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, June 7th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, August 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Planet Labs PBC in a research note on Friday, June 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.39.

Planet Labs PBC Trading Up 10.8 %

The stock has a market capitalization of $808.35 million, a PE ratio of -5.50 and a beta of 0.99. The firm’s 50-day moving average price is $2.18 and its 200-day moving average price is $2.10.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $60.44 million during the quarter, compared to analysts’ expectations of $59.80 million. Planet Labs PBC had a negative return on equity of 25.89% and a negative net margin of 59.26%. During the same quarter in the previous year, the business earned ($0.13) EPS. On average, equities research analysts predict that Planet Labs PBC will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

A number of large investors have recently modified their holdings of the company. Perkins Coie Trust Co bought a new stake in Planet Labs PBC during the 2nd quarter valued at $28,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $34,000. Algert Global LLC bought a new stake in shares of Planet Labs PBC in the second quarter valued at about $38,000. Virtu Financial LLC purchased a new stake in Planet Labs PBC in the first quarter worth about $52,000. Finally, Victory Capital Management Inc. grew its holdings in Planet Labs PBC by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock worth $55,000 after acquiring an additional 5,284 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.