Planet Labs PBC (NYSE:PL) Given Average Recommendation of “Hold” by Brokerages

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

Several equities research analysts recently issued reports on PL shares. New Street Research raised Planet Labs PBC from a “sell” rating to a “neutral” rating in a research report on Friday, September 4th. The Goldman Sachs Group boosted their target price on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Northland Securities set a $40.00 target price on shares of Planet Labs PBC in a report on Friday, September 4th. Zacks Research upgraded shares of Planet Labs PBC from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $28.00 price target on shares of Planet Labs PBC in a report on Tuesday, September 8th.

Planet Labs PBC Stock Down 0.9%

NYSE:PL opened at $16.91 on Friday. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of -15.37 and a beta of 2.10. Planet Labs PBC has a one year low of $10.52 and a one year high of $51.76. The stock has a 50-day simple moving average of $20.68 and a 200 day simple moving average of $29.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 2.84.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $116.05 million for the quarter, compared to analysts’ expectations of $104.53 million. Planet Labs PBC had a negative return on equity of 93.11% and a negative net margin of 95.13%.Planet Labs PBC’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Sell-side analysts predict that Planet Labs PBC will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John W. Raymond sold 6,494 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $26.16, for a total transaction of $169,883.04. Following the completion of the transaction, the director directly owned 37,114 shares of the company’s stock, valued at approximately $970,902.24. This represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 64,593 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $25.92, for a total value of $1,674,250.56. Following the sale, the insider owned 825,541 shares in the company, valued at $21,398,022.72. The trade was a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 279,025 shares of company stock valued at $5,978,941 over the last quarter. Insiders own 16.42% of the company’s stock.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its holdings in Planet Labs PBC by 40.9% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock worth $38,000 after acquiring an additional 395 shares during the period. Wellington Shields & Co. LLC lifted its stake in shares of Planet Labs PBC by 2.8% in the 4th quarter. Wellington Shields & Co. LLC now owns 15,776 shares of the company’s stock valued at $311,000 after purchasing an additional 435 shares during the period. KBC Group NV boosted its position in shares of Planet Labs PBC by 7.1% in the 1st 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 boosted its position in shares of Planet Labs PBC by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 68,998 shares of the company’s stock worth $2,286,000 after purchasing an additional 705 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new stake in shares of Planet Labs PBC during the first quarter worth $28,000. 41.71% of the stock is 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 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.