Planet Labs PBC (NYSE:PL) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Planet Labs PBC (NYSE:PL) have received a consensus rating of “Hold” from the fourteen research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.33.

Several equities analysts have recently weighed in on PL shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $28.00 price target on shares of Planet Labs PBC in a research note on Tuesday, September 8th. Craig Hallum set a $35.00 price objective on Planet Labs PBC in a report on Friday, September 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a research note on Friday, September 11th. Berenberg Bank began coverage on Planet Labs PBC in a research report on Wednesday, September 2nd. They set a “buy” rating and a $25.00 price target on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, September 4th.

Planet Labs PBC Stock Down 6.8%

Shares of NYSE PL opened at $13.55 on Tuesday. Planet Labs PBC has a 1 year low of $10.52 and a 1 year high of $51.76. The firm’s 50-day moving average is $18.69 and its 200-day moving average is $27.96. 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 firm has a market capitalization of $4.93 billion, a PE ratio of -12.32 and a beta of 2.17.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $116.05 million during the quarter, compared to analyst estimates of $104.53 million. Planet Labs PBC had a negative net margin of 95.13% and a negative return on equity of 93.11%. The business’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. Equities analysts expect that Planet Labs PBC will post -0.63 EPS for the current year.

Insider Transactions at Planet Labs PBC

In related 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 completion of the sale, the insider owned 170,171 shares of the company’s stock, valued at $2,886,100.16. This represents a 23.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kristen Robinson sold 40,000 shares of the firm’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $14.14, for a total value of $565,600.00. Following the completion of the sale, the director directly owned 182,897 shares in the company, valued at approximately $2,586,163.58. This represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 240,932 shares of company stock worth $4,338,761. Corporate insiders own 16.42% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently modified their holdings of the company. Pittenger & Anderson Inc. grew its position in Planet Labs PBC by 40.9% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. KBC Group NV boosted its position in Planet Labs PBC by 7.1% in the first quarter. KBC Group NV now owns 9,985 shares of the company’s stock worth $279,000 after purchasing an additional 661 shares during the last quarter. Arizona State Retirement System increased its position in shares of Planet Labs PBC by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 68,998 shares of the company’s stock valued at $2,286,000 after purchasing an additional 705 shares during the last quarter. Mirador Capital Partners LP increased its position in shares of Planet Labs PBC by 6.2% during the 3rd quarter. Mirador Capital Partners LP now owns 12,910 shares of the company’s stock valued at $212,000 after purchasing an additional 753 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter worth $28,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Company Profile

Planet Labs PBC is an Earth-imaging and geospatial data company that operates a constellation of satellites designed to provide frequent, high-resolution imagery of the planet. Its data is used to monitor changes in land, infrastructure, agriculture, forests, oceans and other environments.

The company’s products include PlanetScope, a satellite imagery service intended to provide frequent coverage of large areas; SkySat, which offers higher-resolution imagery and video capabilities; and other satellite and data products, including hyperspectral imaging initiatives.