Planet Labs PBC (NYSE:PL) Given Consensus Rating of “Hold” by Brokerages

Shares of Planet Labs PBC (NYSE:PL) have received an average recommendation of “Hold” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.8818.

Several research firms recently issued reports on PL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday, January 22nd. Wedbush upped their target price on Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Morgan Stanley boosted their price target on Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Finally, Citigroup raised their price objective on Planet Labs PBC from $19.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th.

Planet Labs PBC Stock Performance

PL opened at $21.78 on Thursday. 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 has a 52-week low of $2.79 and a 52-week high of $30.90. The firm has a market cap of $6.83 billion, a P/E ratio of -51.86 and a beta of 1.94. The business’s fifty day moving average is $20.65 and its 200-day moving average is $13.91.

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

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total value of $535,400.00. Following the sale, the director owned 250,169 shares in the company, valued at $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ashley F. Johnson sold 150,731 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was 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 approximately $52,834,288.01. The trade was a 7.15% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 292,368 shares of company stock valued at $7,324,211. 17.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Planet Labs PBC by 671.1% in the first quarter. AQR Capital Management LLC now owns 92,693 shares of the company’s stock worth $313,000 after acquiring an additional 80,672 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter worth approximately $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Planet Labs PBC by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 130,798 shares of the company’s stock valued at $442,000 after purchasing an additional 8,143 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Planet Labs PBC by 54.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after buying an additional 653,173 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Planet Labs PBC during the second quarter worth $186,000. Institutional investors own 41.71% of the company’s stock.

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.