Planet Labs PBC (NYSE:PL) Receives Average Rating of "Hold" from Analysts

Key Points

• Planet Labs received a consensus “Hold” rating from 13 analysts: six holds, five buys, one strong buy and one sell. The average 12-month price target is $32.78.
• The company’s latest quarterly results exceeded expectations, with EPS of $0.02 versus the projected loss of $0.02 and revenue of $116.05 million, up 58.2% year over year. However, Planet Labs remains unprofitable, with analysts expecting a full-year loss of $0.91 per share.
• Insiders sold 279,025 shares worth approximately $6.0 million over the past three months, including sizable sales by the CEO and CFO. Institutional investors and hedge funds own 41.71% of the stock.

Planet Labs PBC (NYSE:PL - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $32.7750.

Several research analysts have issued reports on PL shares. Zacks Research raised Planet Labs PBC from a "strong sell" rating to a "hold" rating in a report on Thursday, July 2nd. Craig Hallum set a $35.00 target price on Planet Labs PBC in a research note on Friday, September 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Planet Labs PBC in a research report on Friday, September 11th. Northland Securities set a $40.00 price target on Planet Labs PBC in a research note on Friday, September 4th. Finally, New Street Research upgraded Planet Labs PBC from a "sell" rating to a "neutral" rating in a report on Friday, September 4th.

Planet Labs PBC Trading Up 6.5%

Shares of NYSE PL opened at $17.07 on Friday. Planet Labs PBC has a 1-year low of $10.22 and a 1-year high of $51.76. The company has a market cap of $6.21 billion, a PE ratio of -15.51 and a beta of 2.10. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $21.23 and a two-hundred day moving average of $29.62.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The business had revenue of $116.05 million for the quarter, compared to analysts' expectations of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. Planet Labs PBC's revenue was up 58.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, equities analysts expect that Planet Labs PBC will post -0.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Planet Labs PBC news, insider Robert Schingler sold 52,240 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total transaction of $885,990.40. Following the transaction, the insider directly owned 170,171 shares in the company, valued at approximately $2,886,100.16. This represents a 23.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ashley Johnson sold 55,663 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total transaction of $944,044.48. Following the transaction, the chief financial officer owned 577,915 shares in the company, valued at approximately $9,801,438.40. The trade was a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 279,025 shares of company stock valued at $5,978,941. 16.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several large investors have recently bought and sold shares of PL. Geode Capital Management LLC grew its holdings in Planet Labs PBC by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 5,702,642 shares of the company's stock worth $112,475,000 after acquiring an additional 71,381 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Planet Labs PBC by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,013,187 shares of the company's stock worth $112,167,000 after purchasing an additional 70,986 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Planet Labs PBC by 80.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,932,381 shares of the company's stock worth $54,010,000 after purchasing an additional 861,306 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Planet Labs PBC by 5,339.2% during the second quarter. Tidal Investments LLC now owns 1,591,020 shares of the company's stock worth $52,710,000 after purchasing an additional 1,561,769 shares during the period. Finally, Tema ETFs LLC grew its stake in shares of Planet Labs PBC by 75,804.6% during the second quarter. Tema ETFs LLC now owns 1,590,960 shares of the company's stock worth $52,709,000 after purchasing an additional 1,588,864 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

About Planet Labs PBC

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent imagery of the planet's landmass. The company collects, processes and delivers satellite imagery and related data products through cloud-based platforms and application programming interfaces.

Its offerings include PlanetScope imagery for broad-area monitoring, SkySat imagery for higher-resolution observation, and specialized products that support change detection, mapping and environmental analysis.

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