Planet Labs PBC (NYSE:PL) Receives $14.74 Consensus PT from Brokerages

Planet Labs PBC (NYSE:PL) has earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.6583.

Several equities research analysts recently weighed in on PL shares. Northland Securities set a $28.00 target price on shares of Planet Labs PBC in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. JMP Securities reiterated a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. National Bankshares set a $12.30 price objective on Planet Labs PBC in a research report on Tuesday, December 16th. Finally, Citigroup raised their target price on Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday.

Insider Activity at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,782 shares of the firm’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $19.35, for a total transaction of $1,427,681.70. Following the completion of the transaction, the insider directly owned 1,164,729 shares of the company’s stock, valued at approximately $22,537,506.15. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Planet Labs PBC by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock valued at $40,000 after purchasing an additional 1,195 shares during the last quarter. MCF Advisors LLC bought a new position in shares of Planet Labs PBC in the third quarter valued at approximately $32,000. Larson Financial Group LLC bought a new position in shares of Planet Labs PBC in the third quarter valued at approximately $39,000. Jones Financial Companies Lllp boosted its holdings in shares of Planet Labs PBC by 59.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock worth $44,000 after acquiring an additional 1,337 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Planet Labs PBC during the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

NYSE PL traded up $0.42 during trading on Friday, hitting $28.70. The company’s stock had a trading volume of 19,960,893 shares, compared to its average volume of 11,756,727. 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 $9.00 billion, a P/E ratio of -68.33 and a beta of 1.94. The firm has a 50 day moving average price of $16.95 and a 200 day moving average price of $12.14. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). The company had revenue of $81.25 million during the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The business’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.