Planet Labs PBC (NYSE:PL) Receives Average Recommendation of “Hold” from Analysts

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus rating of “Hold” from the twelve research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $35.3583.

PL has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target 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. Craig Hallum raised their target price on Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Zacks Research upgraded Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. New Street Research assumed coverage on Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $36.00 price objective on shares of Planet Labs PBC in a report on Monday, June 15th.

Planet Labs PBC Trading Up 0.1%

Shares of Planet Labs PBC stock opened at $22.32 on Monday. Planet Labs PBC has a 52-week low of $6.26 and a 52-week high of $51.76. The firm has a market capitalization of $7.95 billion, a PE ratio of -19.58 and a beta of 2.11. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.81 and a quick ratio of 2.78. The company’s fifty day moving average price is $25.24 and its two-hundred day moving average price is $30.24.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The company had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.39 million. Planet Labs PBC’s revenue was up 42.1% compared to the same quarter last year. On average, analysts expect that Planet Labs PBC will post -0.92 EPS for the current year.

Insider Transactions at Planet Labs PBC

In related news, insider Robert H. Schingler sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $25.92, for a total transaction of $648,000.00. Following the completion of the sale, the insider owned 225,171 shares in the company, valued at $5,836,432.32. This trade represents a 9.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John W. Raymond sold 6,494 shares of Planet Labs PBC stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $26.16, for a total transaction of $169,883.04. Following the transaction, the director directly owned 37,114 shares of the company’s stock, valued at $970,902.24. This represents a 14.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 171,122 shares of company stock valued at $4,148,906. 16.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. American Capital Advisory LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter worth approximately $28,000. Western Wealth Management LLC acquired a new stake in Planet Labs PBC during the 1st quarter valued at $28,000. Pittenger & Anderson Inc. increased its holdings in Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Planet Labs PBC in the 1st quarter valued at $41,000. Finally, Parkside Financial Bank & Trust raised its position in Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares during the last quarter. 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.