Planet Labs PBC (NYSE:PL) Now Covered by Barclays

Barclays initiated coverage on shares of Planet Labs PBC (NYSE:PL) in a report released on Friday, MarketBeat.com reports. The firm set an “equal weight” rating and a $17.00 price target on the stock. Barclays‘s target price indicates a potential downside of 1.11% from the company’s current price.

PL has been the subject of several other reports. New Street Research upgraded shares of Planet Labs PBC from a “sell” rating to a “neutral” rating in a report on Friday, September 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of Planet Labs PBC in a report on Friday, September 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Planet Labs PBC in a report on Friday, September 11th. The Goldman Sachs Group increased their price target on shares of Planet Labs PBC from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Needham & Company LLC dropped their price objective on shares of Planet Labs PBC from $53.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Planet Labs PBC currently has an average rating of “Hold” and a consensus target price of $31.56.

Planet Labs PBC Price Performance

PL opened at $17.19 on Friday. The business’s fifty day moving average is $19.49 and its two-hundred day moving average is $28.59. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.82 and a current ratio of 2.84. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -15.63 and a beta of 2.17. Planet Labs PBC has a one year low of $10.52 and a one year high of $51.76.

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

Insider Buying and Selling

In related news, CFO Ashley Johnson sold 55,663 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $16.96, for a total value of $944,044.48. Following the completion of the transaction, the chief financial officer owned 577,915 shares of the company’s stock, valued at approximately $9,801,438.40. The trade was a 8.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ita Brennan sold 11,500 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $16.30, for a total transaction of $187,450.00. Following the completion of the transaction, the director directly owned 250,373 shares of the company’s stock, valued at $4,081,079.90. The trade was a 4.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 200,932 shares of company stock worth $3,844,141. 16.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently modified their holdings of the company. American Capital Advisory LLC purchased a new stake in Planet Labs PBC in the 1st quarter worth approximately $28,000. Western Wealth Management LLC acquired a new position in Planet Labs PBC in the 1st quarter valued at $28,000. Pittenger & Anderson Inc. raised its holdings 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 acquiring an additional 395 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Planet Labs PBC during the 1st quarter worth $41,000. Finally, Whittier Trust Co. purchased a new position in shares of Planet Labs PBC during the 1st quarter worth $66,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.