Planet Labs PBC (NYSE:PL) Given Consensus Rating of “Hold” by Analysts

Shares of Planet Labs PBC (NYSE:PL) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on 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.

A number of research firms have commented on PL. Morgan Stanley boosted their price target on shares of Planet Labs PBC from $20.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. Craig Hallum reiterated a “buy” rating and set a $30.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 13th. National Bank Financial set a $12.30 target price on Planet Labs PBC in a report on Tuesday, December 16th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th.

Planet Labs PBC Trading Up 2.8%

NYSE:PL opened at $25.27 on Monday. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $30.90. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of -60.17 and a beta of 1.95. The business has a fifty day moving average of $24.10 and a 200-day moving average of $16.48. 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 issued its quarterly earnings data on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The business had revenue of $81.25 million for the quarter, compared to analysts’ expectations of $72.02 million. Planet Labs PBC had a negative net margin of 45.87% and a negative return on equity of 31.01%. The company’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. Equities analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Insider Transactions at Planet Labs PBC

In other news, insider Robert H. Schingler sold 73,782 shares of the business’s stock in a transaction 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 sale, the insider owned 1,164,729 shares of the company’s stock, valued at approximately $22,537,506.15. The trade was a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijaya Gadde sold 20,000 shares of the company’s 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 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 292,348 shares of company stock worth $7,323,958 over the last 90 days. 17.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its stake 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 worth $31,000 after acquiring an additional 745 shares in the last quarter. MCF Advisors LLC purchased a new position in Planet Labs PBC during the 3rd quarter valued at about $32,000. Baillie Gifford & Co. acquired a new position in shares of Planet Labs PBC in the 4th quarter valued at about $32,000. Larson Financial Group LLC acquired a new position in shares of Planet Labs PBC in the 3rd quarter valued at about $39,000. Finally, GAMMA Investing LLC lifted its position in shares of Planet Labs PBC by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 2,011 shares of the company’s stock worth $40,000 after purchasing an additional 1,195 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.