Planet Labs PBC (NYSE:PL) Stock Price Down 7.2% - Time to Sell?

Key Points

• Shares of Planet Labs PBC fell 7.2% intraday to about $23.18, with 6.89 million shares traded — roughly 52% below the average session volume of 14.37 million.
• Analysts are mixed: MarketBeat shows a consensus rating of "Hold" with a $20.64 consensus target (seven Buys, four Holds, two Sells) and recent price targets as low as $12.30 and $16.40.
• The company beat the quarter on revenue ($81.25M, +32.6%) and EPS ($0.00 vs. -$0.02) but remains unprofitable (negative net margin ~45.9%, negative ROE) with analysts forecasting -$0.37 EPS for the year, and insiders have been net sellers (292,348 shares sold in the past 90 days; insiders own 17.53%).

Planet Labs PBC (NYSE:PL - Get Free Report) shares fell 7.2% on Monday . The company traded as low as $22.90 and last traded at $23.1760. 6,890,375 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 14,372,361 shares. The stock had previously closed at $24.97.

Analyst Upgrades and Downgrades

PL has been the topic of several research analyst reports. Citizens Jmp lowered Planet Labs PBC from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 21st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $16.40 target price on shares of Planet Labs PBC in a report on Tuesday, January 20th. JMP Securities reissued a "market perform" rating on shares of Planet Labs PBC in a research report on Tuesday, October 21st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Planet Labs PBC in a research note on Thursday, December 11th. Finally, National Bankshares set a $12.30 price target on Planet Labs PBC in a research report on Tuesday, December 16th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.64.

Planet Labs PBC Price Performance

The company has a market cap of $7.18 billion, a PE ratio of -53.80 and a beta of 1.94. The stock has a fifty day simple moving average of $19.98 and a two-hundred day simple moving average of $13.62. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 1.28.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Wednesday, December 10th. The company reported $0.00 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.02. The firm had revenue of $81.25 million for the quarter, compared to the consensus estimate of $72.02 million. Planet Labs PBC had a negative return on equity of 31.01% and a negative net margin of 45.87%.The company's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director Vijaya Gadde sold 20,000 shares of Planet Labs PBC stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $26.77, for a total transaction of $535,400.00. Following the completion of the transaction, the director owned 250,169 shares in the company, valued at approximately $6,697,024.13. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert H. Schingler sold 73,782 shares of the firm's stock in a transaction that occurred on Friday, December 26th. The stock was 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 292,348 shares of company stock valued at $7,323,958. Insiders own 17.53% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. MCF Advisors LLC acquired a new position in Planet Labs PBC during the third quarter worth approximately $32,000. Baillie Gifford & Co. purchased a new stake in Planet Labs PBC during the fourth quarter valued at about $32,000. Larson Financial Group LLC acquired a new stake in Planet Labs PBC during the third quarter worth about $39,000. GAMMA Investing LLC raised its holdings in shares of Planet Labs PBC by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 2,011 shares of the company's stock worth $40,000 after purchasing an additional 1,195 shares during the period. Finally, North Star Investment Management Corp. lifted its stake in shares of Planet Labs PBC by 1,111.1% in the 4th quarter. North Star Investment Management Corp. now owns 2,180 shares of the company's stock valued at $43,000 after purchasing an additional 2,000 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.