Planet Labs PBC (NYSE:PL) Trading Up 1.2% – Here’s Why
by Danessa Lincoln · The Markets DailyPlanet Labs PBC (NYSE:PL – Get Free Report)’s stock price traded up 1.2% during trading on Wednesday . The company traded as high as $35.17 and last traded at $34.3510. Approximately 10,894,724 shares were traded during mid-day trading, a decline of 22% from the average session volume of 13,975,014 shares. The stock had previously closed at $33.93.
Key Headlines Impacting Planet Labs PBC
Here are the key news stories impacting Planet Labs PBC this week:
- Positive Sentiment: Large, concentrated call‑option buying signals bullish investor/speculator interest; recent unusual activity included roughly 28,645 calls traded, well above average, suggesting momentum traders are positioned for more upside. Traders Purchase Large Volume of Planet Labs PBC Call Options (NYSE:PL)
- Positive Sentiment: Company‑level catalysts reported include new defense contracts and a claimed satellite AI breakthrough — items that can boost revenue visibility and win government/business customers over time. Planet Labs (PL) Stock Gains Ground on Defense Contracts and Satellite AI Breakthrough
- Positive Sentiment: Sector momentum: a broad space‑sector rally (coverage noting White House space initiatives, SpaceX IPO speculation and NASA’s Artemis II) has lifted space equities, driving short‑term buying interest in PL. Planet Labs Stock Soars Amid Space Sector Surge
- Positive Sentiment: Analyst/media momentum plays: PL is being recommended in some pre‑SpaceX‑IPO stock lists as a way to play broader space/geo‑intelligence upside. 2 stocks to buy before SpaceX IPO
- Neutral Sentiment: Valuation check / investor debate: after a ~10x one‑year surge, analysts and columnists are asking whether PL is already priced for perfection — useful reading for investors weighing new entries vs. profit‑taking. Is It Too Late To Consider Planet Labs (PL) After Its 10x One Year Surge?
- Negative Sentiment: Fundamentals and recent results remain a headwind: PL missed EPS estimates in its March quarter (reported loss larger than expected), has negative margins and high leverage metrics — factors that increase downside risk if sentiment cools.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $38.00 target price on shares of Planet Labs PBC and gave the company a “buy” rating in a report on Friday, March 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $16.40 target price on shares of Planet Labs PBC in a report on Tuesday, January 20th. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of Planet Labs PBC in a report on Tuesday, January 13th. Morgan Stanley boosted their target price on shares of Planet Labs PBC from $26.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. Finally, Citigroup boosted their target price on shares of Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Planet Labs PBC presently has an average rating of “Hold” and a consensus price target of $29.61.
Planet Labs PBC Stock Down 3.5%
The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The company has a market cap of $13.32 billion, a PE ratio of -49.33 and a beta of 1.83. The stock has a 50-day moving average of $28.12 and a 200-day moving average of $21.01.
Planet Labs PBC (NYSE:PL – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.43). The business had revenue of $86.82 million for the quarter, compared to analysts’ expectations of $78.17 million. Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The business’s revenue for the quarter was up 41.1% compared to the same quarter last year. Sell-side analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Planet Labs PBC news, Director Kristen Robinson sold 47,835 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total value of $1,289,631.60. Following the sale, the director owned 222,897 shares in the company, valued at $6,009,303.12. The trade was a 17.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashley F. Johnson sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. This represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 492,249 shares of company stock worth $15,500,339. 17.53% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Planet Labs PBC
A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its stake in Planet Labs PBC by 45.3% during the 3rd quarter. New York State Common Retirement Fund now owns 202,384 shares of the company’s stock worth $2,627,000 after buying an additional 63,088 shares during the period. Divisadero Street Capital Management LP purchased a new stake in Planet Labs PBC during the 3rd quarter worth approximately $13,564,000. Oppenheimer & Co. Inc. increased its stake in Planet Labs PBC by 74.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 2,002,184 shares of the company’s stock worth $25,988,000 after buying an additional 851,937 shares during the period. Ranger Investment Management L.P. purchased a new stake in Planet Labs PBC during the 3rd quarter worth approximately $2,688,000. Finally, Rice Hall James & Associates LLC purchased a new stake in Planet Labs PBC during the 3rd quarter worth approximately $4,392,000. 41.71% of the stock is currently owned by institutional investors.
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.