Planet Labs PBC (NYSE:PL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Planet Labs PBC (NYSE:PL) have received a consensus rating of “Hold” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.8818.

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.40 price objective on shares of Planet Labs PBC in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. JMP Securities reissued a “market perform” rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Morgan Stanley boosted their target price on Planet Labs PBC from $20.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 13th. Finally, Needham & Company LLC increased their price target on Planet Labs PBC from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, December 11th.

Insider Transactions at Planet Labs PBC

In related news, CFO Ashley F. Johnson sold 150,731 shares of Planet Labs PBC stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $27.01, for a total value of $4,071,244.31. Following the completion of the sale, the chief financial officer owned 1,956,101 shares of the company’s stock, valued at approximately $52,834,288.01. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kristen Robinson sold 47,835 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total transaction of $1,289,631.60. Following the sale, the director owned 222,897 shares of the company’s stock, valued at $6,009,303.12. This trade represents a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 292,368 shares of company stock valued at $7,324,211 in the last 90 days. 17.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of Planet Labs PBC by 758.1% during the third quarter. Barclays PLC now owns 3,727,743 shares of the company’s stock valued at $48,386,000 after buying an additional 3,293,333 shares during the last quarter. Invesco Ltd. lifted its stake in Planet Labs PBC by 265.6% during the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company’s stock valued at $44,787,000 after acquiring an additional 2,506,595 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Planet Labs PBC by 245.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,453,131 shares of the company’s stock worth $14,964,000 after acquiring an additional 1,743,474 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Planet Labs PBC by 257.5% in the 3rd quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company’s stock worth $30,662,000 after acquiring an additional 1,701,535 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Planet Labs PBC by 9.7% in the third quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company’s stock valued at $240,801,000 after purchasing an additional 1,637,880 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Down 9.1%

Shares of NYSE:PL opened at $21.78 on Thursday. Planet Labs PBC has a 1 year low of $2.79 and a 1 year high of $30.90. The company has a debt-to-equity ratio of 1.28, a current ratio of 4.00 and a quick ratio of 4.00. The business’s 50-day moving average is $20.65 and its 200-day moving average is $13.91. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of -51.86 and a beta of 1.94.

Planet Labs PBC (NYSE:PL) last released its earnings results on Wednesday, December 10th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.02. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The business had revenue of $81.25 million during the quarter, compared to analysts’ expectations of $72.02 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The firm’s revenue was up 32.6% on a year-over-year basis. Equities research analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Planet Labs PBC Company Profile

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.