Planet Labs PBC Target of Unusually Large Options Trading (NYSE:PL)

Planet Labs PBC (NYSE:PL) saw unusually large options trading on Monday. Investors bought 14,969 call options on the stock. This represents an increase of 909% compared to the average daily volume of 1,484 call options.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PL shares. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Planet Labs PBC in a research note on Thursday, September 26th. The Goldman Sachs Group cut their price target on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Craig Hallum raised their price target on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday, September 6th. Needham & Company LLC cut their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. 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 MarketBeat, Planet Labs PBC presently has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Planet Labs PBC Stock Up 4.6 %

Shares of Planet Labs PBC stock traded up $0.18 during midday trading on Monday, hitting $4.11. The company’s stock had a trading volume of 3,207,574 shares, compared to its average volume of 1,872,050. The firm has a market capitalization of $1.21 billion, a P/E ratio of -9.04 and a beta of 0.97. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $4.54. The stock has a 50-day simple moving average of $2.58 and a 200-day simple moving average of $2.28.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to analyst estimates of $61.57 million. Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. As a group, sell-side analysts predict that Planet Labs PBC will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PL. The Manufacturers Life Insurance Company boosted its holdings in shares of Planet Labs PBC by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock worth $134,000 after acquiring an additional 5,395 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Planet Labs PBC by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock worth $130,000 after acquiring an additional 6,215 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after acquiring an additional 6,910 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Planet Labs PBC by 13.0% in the 2nd quarter. Van ECK Associates Corp now owns 103,768 shares of the company’s stock worth $193,000 after acquiring an additional 11,951 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

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.