Planet Labs PBC (NYSE:PL) Stock Price Down 8.8% – What’s Next?

Planet Labs PBC (NYSE:PL) traded down 8.8% on Friday . The stock traded as low as $29.77 and last traded at $31.1640. 19,506,059 shares were traded during mid-day trading, an increase of 45% from the average session volume of 13,460,496 shares. The stock had previously closed at $34.17.

Key Planet Labs PBC News

Here are the key news stories impacting Planet Labs PBC this week:

• Positive Sentiment: Planet Labs reported strong quarterly results, beating analyst expectations on both EPS and revenue, while year-over-year revenue growth remained robust. 3 Stocks With Fresh Catalysts to Watch Before July 4 (PL)
• Positive Sentiment: Investors are showing renewed interest in commercial space stocks ahead of SpaceX’s IPO, which helped lift Planet Labs as a sector proxy. Planet Labs Stock Skyrockets Ahead Of SpaceX’s Friday IPO
• Positive Sentiment: Planet Labs’ AIRS initiative could strengthen its sustainability-related satellite data business and broaden its commercial appeal. Planet Labs Uses AIRS Initiative To Link Satellite Data With Sustainability
• Neutral Sentiment: Market commentary suggests PL’s recent pullback may be a buying opportunity, but the stock is still trading as a sentiment-driven space name rather than on near-term profits. Planet Labs coming back down to Earth
• Negative Sentiment: Northland Securities cut several forward earnings estimates for Planet Labs, reinforcing concerns that profitability remains limited and may pressure valuation. Analysts Offer Insights on Industrial Goods Companies: Bloom Energy (BE), Equifax (EFX) and Planet Labs PBC (PL)

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PL. Needham & Company LLC raised their price target on Planet Labs PBC from $40.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Weiss Ratings lowered Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Northland Securities set a $50.00 target price on Planet Labs PBC in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $38.00 target price on Planet Labs PBC and gave the stock a “buy” rating in a research report on Friday, March 27th. Finally, Citigroup increased their price target on shares of Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.28.

Planet Labs PBC Stock Performance

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 stock has a 50-day moving average price of $38.98 and a 200-day moving average price of $28.33. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of -27.34 and a beta of 1.99.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. Planet Labs PBC had a negative net margin of 111.17% and a negative return on equity of 105.29%. The business’s quarterly revenue was up 42.1% on a year-over-year basis. As a group, analysts forecast that Planet Labs PBC will post -0.81 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert H. Schingler sold 73,683 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the transaction, the insider directly owned 256,488 shares of the company’s stock, valued at approximately $8,995,034.16. This represents a 22.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,895,162 shares in the company, valued at $66,520,186.20. This trade represents a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors have recently modified their holdings of the business. Western Wealth Management LLC purchased a new stake in Planet Labs PBC during the first quarter worth about $28,000. Oddo BHF Asset Management Sas bought a new position in shares of Planet Labs PBC during the 1st quarter worth $5,472,000. Amundi grew its stake in shares of Planet Labs PBC by 30.7% during the 1st quarter. Amundi now owns 20,280 shares of the company’s stock worth $567,000 after acquiring an additional 4,765 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Planet Labs PBC by 243.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,965 shares of the company’s stock worth $83,000 after acquiring an additional 2,102 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in Planet Labs PBC by 22.6% in the 1st quarter. California State Teachers Retirement System now owns 285,952 shares of the company’s stock valued at $7,992,000 after acquiring an additional 52,806 shares during the period. 41.71% of the stock is owned by institutional investors.

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.