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

Planet Labs PBC (NYSE:PL) has earned a consensus rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.1083.

Several analysts recently weighed in on the company. Craig Hallum lifted their price target on Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Cantor Fitzgerald upped their price objective on Planet Labs PBC from $20.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Morgan Stanley increased their price objective on Planet Labs PBC from $26.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $36.00 target price on shares of Planet Labs PBC in a report on Monday, June 15th. Finally, Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, June 5th.

Planet Labs PBC Stock Up 0.2%

Planet Labs PBC stock opened at $31.44 on Friday. The stock has a market cap of $11.20 billion, a P/E ratio of -27.58 and a beta of 2.06. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 1.01. Planet Labs PBC has a twelve month low of $5.87 and a twelve month high of $51.76. The company’s 50-day moving average price is $36.90 and its two-hundred day moving average price is $30.06.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data 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. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The company had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. The company’s quarterly revenue was up 42.1% on a year-over-year basis. As a group, analysts expect that Planet Labs PBC will post -0.65 EPS for the current year.

Insiders Place Their Bets

In other Planet Labs PBC news, insider Robert H. Schingler sold 73,683 shares of Planet Labs PBC stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $35.07, for a total value of $2,584,062.81. Following the completion of the sale, the insider owned 256,488 shares in the company, valued at $8,995,034.16. The trade was a 22.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Planet Labs PBC by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 19,358,515 shares of the company’s stock valued at $381,750,000 after acquiring an additional 806,818 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Planet Labs PBC during the 3rd quarter valued at $13,564,000. AMI Asset Management Corp acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth $673,000. Jefferies Financial Group Inc. bought a new position in shares of Planet Labs PBC in the third quarter worth $875,000. Finally, Hsbc Holdings PLC bought a new position in shares of Planet Labs PBC in the fourth quarter worth $8,457,000. 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.