Planet Labs PBC (NYSE:PL) Receives $21.88 Consensus Price Target from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have been given a consensus rating of “Hold” by the twelve analysts that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.8818.

PL has been the topic of a number of research analyst reports. Zacks Research cut shares of Planet Labs PBC from a “hold” rating to a “strong sell” rating in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Cantor Fitzgerald restated an “overweight” rating on shares of Planet Labs PBC in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a research report on Thursday, January 22nd.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $24.03 on Thursday. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -57.21 and a beta of 1.94. Planet Labs PBC has a 52-week low of $2.79 and a 52-week high of $30.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 4.00 and a current ratio of 4.00. The stock’s 50 day moving average price is $21.27 and its two-hundred day moving average price is $14.28.

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

Insider Buying and Selling at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,782 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $19.35, for a total value of $1,427,681.70. Following the transaction, the insider owned 1,164,729 shares in the company, valued at $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijaya Gadde sold 20,000 shares of the stock in a transaction 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 completion of the sale, the director directly owned 250,169 shares of the company’s stock, valued at $6,697,024.13. The trade was a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 292,348 shares of company stock worth $7,323,958. Corporate insiders own 17.53% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Planet Labs PBC by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock worth $381,750,000 after purchasing an additional 806,818 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Planet Labs PBC by 0.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,820,400 shares of the company’s stock valued at $47,704,000 after buying an additional 20,400 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Planet Labs PBC by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company’s stock worth $112,475,000 after buying an additional 71,381 shares during the period. Barclays PLC grew its stake in Planet Labs PBC by 758.1% in the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock valued at $48,386,000 after buying an additional 3,293,333 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Planet Labs PBC by 51.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,705,913 shares of the company’s stock valued at $48,103,000 after buying an additional 1,252,782 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.