Planet Labs PBC (NYSE:PL) Receives Consensus Rating of “Hold” from Analysts

Shares of Planet Labs PBC (NYSE:PL) have received an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.8818.

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $16.40 price objective on shares of Planet Labs PBC in a research report on Tuesday, January 20th. Citigroup lifted their price target on shares of Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. National Bank Financial set a $12.30 price objective on shares of Planet Labs PBC in a report on Tuesday, December 16th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Planet Labs PBC in a report on Thursday, December 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Planet Labs PBC from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, December 11th.

Insider Transactions at Planet Labs PBC

In other Planet Labs PBC news, CFO Ashley F. Johnson sold 150,731 shares of the business’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total transaction of $4,071,244.31. Following the sale, the chief financial officer directly owned 1,956,101 shares in the company, valued at $52,834,288.01. This represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the completion of the transaction, the director directly owned 222,897 shares of the company’s stock, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 292,348 shares of company stock worth $7,323,958 in the last 90 days. Insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of Planet Labs PBC by 320.3% in the fourth quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company’s stock worth $151,429,000 after acquiring an additional 5,851,758 shares in the last quarter. Barclays PLC increased its holdings in Planet Labs PBC by 758.1% during the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock worth $48,386,000 after purchasing an additional 3,293,333 shares during the period. Invesco Ltd. raised its position in Planet Labs PBC by 265.6% in the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after purchasing an additional 2,506,595 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Planet Labs PBC by 245.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock valued at $14,964,000 after purchasing an additional 1,743,474 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Planet Labs PBC by 257.5% in the 3rd quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock valued at $30,662,000 after buying an additional 1,701,535 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Down 5.7%

PL stock opened at $24.13 on Monday. Planet Labs PBC has a one year low of $2.79 and a one year high of $30.90. The firm has a market cap of $7.57 billion, a PE ratio of -57.45 and a beta of 1.95. The firm’s 50 day moving average price is $23.58 and its 200-day moving average price is $15.96. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.02. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The company had revenue of $81.25 million during the quarter, compared to analysts’ expectations of $72.02 million. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current year.

About Planet Labs PBC

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.