Conestoga Capital Advisors LLC Boosts Stock Holdings in Planet Labs PBC (NYSE:PL)

Conestoga Capital Advisors LLC boosted its position in Planet Labs PBC (NYSE:PL) by 24.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 495,450 shares of the company’s stock after buying an additional 97,350 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Planet Labs PBC were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Planet Labs PBC during the 3rd quarter valued at approximately $61,000. Vontobel Holding Ltd. raised its holdings in Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after acquiring an additional 10,000 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Planet Labs PBC during the third quarter worth $45,000. Quent Capital LLC grew its position in shares of Planet Labs PBC by 59.3% in the third quarter. Quent Capital LLC now owns 80,600 shares of the company’s stock valued at $180,000 after purchasing an additional 30,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Planet Labs PBC by 65.9% during the 3rd quarter. SG Americas Securities LLC now owns 73,723 shares of the company’s stock valued at $164,000 after purchasing an additional 29,281 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PL shares. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Friday, August 16th. JMP Securities reaffirmed 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. Craig Hallum increased their target price on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Friday, September 6th. The Goldman Sachs Group reduced their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Needham & Company LLC lowered their price objective on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3.93.

Planet Labs PBC Trading Up 4.1 %

Shares of PL stock traded up $0.09 during trading hours on Friday, hitting $2.30. 646,194 shares of the company’s stock were exchanged, compared to its average volume of 1,714,629. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $2.89. The business’s 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.10.

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

Planet Labs PBC 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.