Analysts Set Planet Labs PBC (NYSE:PL) Target Price at $21.88

Planet Labs PBC (NYSE:PL) has been assigned an average rating of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.8818.

PL has been the topic of a number of research reports. National Bank Financial set a $12.30 target price on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Citigroup raised their price objective on shares of Planet Labs PBC from $19.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Needham & Company LLC lifted their price objective on Planet Labs PBC from $16.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft increased their target price on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Thursday, January 22nd.

Planet Labs PBC Trading Up 2.8%

NYSE PL opened at $26.02 on Monday. The stock has a market cap of $8.16 billion, a P/E ratio of -61.95 and a beta of 1.95. Planet Labs PBC has a fifty-two week low of $2.79 and a fifty-two week high of $30.90. The stock has a 50 day simple moving average of $23.90 and a two-hundred day simple moving average of $16.30. 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 announced its earnings results on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The company had revenue of $81.25 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, analysts forecast 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 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 transaction of $535,400.00. Following the completion of the transaction, the director owned 250,169 shares of the company’s stock, valued at approximately $6,697,024.13. This trade represents a 7.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert H. Schingler sold 73,782 shares of Planet Labs PBC stock in a transaction that occurred on 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 transaction, the insider owned 1,164,729 shares of the company’s stock, valued at $22,537,506.15. The trade was a 5.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 292,348 shares of company stock worth $7,323,958. Corporate insiders own 17.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew 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 last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Planet Labs PBC in the 1st quarter worth about $189,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $442,000 after purchasing an additional 8,143 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock valued at $6,274,000 after purchasing an additional 653,173 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Planet Labs PBC by 5.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 31,973 shares of the company’s stock valued at $195,000 after purchasing an additional 1,782 shares in the last quarter. Hedge funds and other 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.