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

Shares of Planet Labs PBC (NYSE:PL) have received an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $14.7417.

Several analysts have recently issued reports on PL shares. The Goldman Sachs Group reissued a “neutral” rating on shares of Planet Labs PBC in a research report on Tuesday, December 16th. National Bankshares set a $12.30 target price on shares of Planet Labs PBC in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Planet Labs PBC in a report on Wednesday, October 8th. Northland Securities set a $17.00 price target on shares of Planet Labs PBC in a research note on Thursday, December 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Planet Labs PBC in a research report on Thursday, December 11th.

Planet Labs PBC Trading Up 0.6%

PL opened at $20.72 on Wednesday. Planet Labs PBC has a 52 week low of $2.79 and a 52 week high of $20.99. 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 fifty day simple moving average of $13.59 and a 200-day simple moving average of $10.04. The firm has a market cap of $6.50 billion, a P/E ratio of -49.33 and a beta of 2.00.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Wednesday, December 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.17). Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The firm had revenue of $81.25 million for the quarter, compared to analyst estimates of $72.02 million. Planet Labs PBC’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In other Planet Labs PBC news, insider Robert H. Schingler sold 81,656 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $15.50, for a total transaction of $1,265,668.00. Following the sale, the insider owned 1,288,843 shares in the company, valued at $19,977,066.50. This represents a 5.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC purchased a new stake in shares of Planet Labs PBC during the third quarter worth approximately $32,000. Iron Gate Global Advisors LLC acquired a new position in Planet Labs PBC during the 1st quarter worth approximately $36,000. HighTower Advisors LLC purchased a new stake in shares of Planet Labs PBC in the 1st quarter valued at approximately $37,000. Larson Financial Group LLC purchased a new stake in shares of Planet Labs PBC in the 3rd quarter valued at approximately $39,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Planet Labs PBC by 59.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,591 shares of the company’s stock valued at $44,000 after purchasing an additional 1,337 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.