Planet Labs PBC (NYSE:PL) Stock Has Consensus Price Target of $30.33 According to Brokerages

Planet Labs PBC (NYSE:PL) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.33.

Several research analysts have commented on PL shares. New Street Research upgraded shares of Planet Labs PBC from a “sell” rating to a “neutral” rating in a report on Friday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Friday, September 11th. Barclays assumed coverage on shares of Planet Labs PBC in a report on Friday, October 9th. They set an “equal weight” rating and a $17.00 price target on the stock. Northland Securities set a $40.00 price target on shares of Planet Labs PBC in a research report on Friday, September 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Planet Labs PBC from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th.

Planet Labs PBC Trading Up 14.7%

Shares of NYSE PL opened at $14.40 on Friday. Planet Labs PBC has a 12 month low of $10.52 and a 12 month high of $51.76. The company has a market cap of $5.24 billion, a price-to-earnings ratio of -13.09 and a beta of 2.27. The company has a quick ratio of 2.82, a current ratio of 2.84 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $26.19.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $116.05 million during the quarter, compared to analyst estimates of $104.53 million. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%. Planet Labs PBC’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. Sell-side analysts predict that Planet Labs PBC will post -0.60 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert Schingler sold 52,240 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $16.96, for a total value of $885,990.40. Following the completion of the sale, the insider owned 170,171 shares in the company, valued at $2,886,100.16. This represents a 23.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita Brennan sold 11,500 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $16.30, for a total value of $187,450.00. Following the completion of the sale, the director directly owned 250,373 shares of the company’s stock, valued at approximately $4,081,079.90. This trade represents a 4.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 165,897 shares of company stock valued at $2,681,988. 16.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at about $28,000. Pittenger & Anderson Inc. boosted its holdings in shares of Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after purchasing an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Planet Labs PBC during the first quarter worth approximately $41,000. Jacobi Capital Management LLC purchased a new position in Planet Labs PBC during the third quarter valued at approximately $26,000. Finally, Whittier Trust Co. purchased a new position in Planet Labs PBC during the first quarter valued at approximately $66,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

About Planet Labs PBC

Planet Labs PBC operates a fleet of Earth-observation satellites and provides satellite imagery, geospatial data and analysis tools. Its services help customers monitor changes on the planet and apply that information to planning and decision-making.

The company’s products include frequently updated global imagery from its PlanetScope satellites and higher-resolution imagery from its SkySat fleet. Customers can access imagery and data through Planet’s online platform and related services, including tools for searching, analyzing and monitoring locations over time.

Planet serves commercial, government and nonprofit customers around the world.