Planet Labs PBC (NYSE:PL) Trading Down 1.3% - Time to Sell?

Key Points

• Planet Labs missed on earnings with EPS of ($0.48) vs. an expected ($0.05) but posted revenue of $86.82M, beating estimates and rising 41.1% year-over-year.
• Analyst sentiment is mixed—six Buys, four Holds and one Sell—producing a consensus "Hold" and a consensus target price of $29.61, though several brokers have recently lifted targets into the $35–$40 range.
• Insiders sold about 492,249 shares (~$15.5M) over the last quarter and the company remains unprofitable with a net margin of -80.22% and debt/equity of 2.37, even as the stock trades around $34 above its 50- and 200-day moving averages.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock price fell 1.3% during trading on Monday . The company traded as low as $32.72 and last traded at $34.2210. 11,879,029 shares were traded during trading, a decline of 15% from the average session volume of 13,984,321 shares. The stock had previously closed at $34.67.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PL. Needham & Company LLC raised their price objective on shares of Planet Labs PBC to $40.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Citigroup raised their price objective on shares of Planet Labs PBC from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Wedbush raised their price objective on shares of Planet Labs PBC from $30.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, March 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Planet Labs PBC in a report on Thursday, January 22nd. Finally, Northland Securities set a $28.00 price objective on shares of Planet Labs PBC in a report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.61.

Planet Labs PBC Stock Down 1.3%

The company has a current ratio of 1.65, a quick ratio of 1.64 and a debt-to-equity ratio of 2.37. The firm's 50 day simple moving average is $27.05 and its 200-day simple moving average is $20.47. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of -43.87 and a beta of 1.83.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.43). Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The business had revenue of $86.82 million during the quarter, compared to analyst estimates of $78.17 million. The company's quarterly revenue was up 41.1% on a year-over-year basis. Equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director Kristen Robinson sold 47,835 shares of Planet Labs PBC stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $26.96, for a total value of $1,289,631.60. Following the sale, the director directly owned 222,897 shares in the company, valued at approximately $6,009,303.12. The trade was a 17.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ashley F. Johnson sold 200,000 shares of Planet Labs PBC stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the completion of the sale, the chief financial officer owned 1,895,162 shares in the company, valued at $66,520,186.20. The trade was a 9.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 492,249 shares of company stock valued at $15,500,339 over the last quarter. 17.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PL. Parkside Financial Bank & Trust grew its position in shares of Planet Labs PBC by 92.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company's stock valued at $31,000 after acquiring an additional 745 shares during the period. MCF Advisors LLC bought a new position in shares of Planet Labs PBC in the 3rd quarter valued at about $32,000. Baillie Gifford & Co. bought a new position in shares of Planet Labs PBC in the 4th quarter valued at about $32,000. Larson Financial Group LLC bought a new position in shares of Planet Labs PBC in the 3rd quarter valued at about $39,000. Finally, GAMMA Investing LLC grew its position 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 valued at $40,000 after acquiring an additional 1,195 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 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.

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