Planet Labs PBC (NYSE:PL) Receives Average Rating of “Hold” from Brokerages

Planet Labs PBC (NYSE:PL) has received an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $19.6583.

A number of brokerages have recently commented on PL. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a report on Tuesday, October 21st. Craig Hallum reissued a “buy” rating and issued a $30.00 target price on shares of Planet Labs PBC in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wedbush upped their price objective on Planet Labs PBC from $20.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Northland Securities set a $28.00 price objective on Planet Labs PBC in a report on Tuesday.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $28.30 on Friday. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of -67.37 and a beta of 1.94. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 1.28. The business has a 50-day simple moving average of $16.64 and a 200 day simple moving average of $11.95. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $29.38.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.17). The business had revenue of $81.25 million for the quarter, compared to the consensus estimate 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. On average, research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Activity at Planet Labs PBC

In other Planet Labs PBC news, 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 directly owned 1,164,729 shares of the company’s stock, valued at approximately $22,537,506.15. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 17.53% of the company’s stock.

Institutional Trading of Planet Labs PBC

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in Planet Labs PBC by 2.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,264 shares of the company’s stock valued at $406,000 after buying an additional 781 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Planet Labs PBC by 3.6% in the 3rd quarter. Victory Capital Management Inc. now owns 25,855 shares of the company’s stock valued at $336,000 after acquiring an additional 896 shares during the last quarter. Ariadne Wealth Management LP boosted its holdings in Planet Labs PBC by 8.8% during the 3rd quarter. Ariadne Wealth Management LP now owns 11,202 shares of the company’s stock valued at $145,000 after acquiring an additional 905 shares during the period. Valeo Financial Advisors LLC grew its position in Planet Labs PBC by 4.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 21,641 shares of the company’s stock worth $281,000 after acquiring an additional 925 shares during the last quarter. Finally, 180 Wealth Advisors LLC grew its position in Planet Labs PBC by 0.8% during the 3rd quarter. 180 Wealth Advisors LLC now owns 147,032 shares of the company’s stock worth $1,908,000 after acquiring an additional 1,114 shares during the last quarter. 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.