Planet Labs PBC (NYSE:PL) Stock Has Consensus Target Price of $31.56

Planet Labs PBC (NYSE:PL) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $31.56.

Several analysts have issued reports on PL shares. Wedbush initiated coverage on Planet Labs PBC in a research note on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective on the stock. Northland Securities set a $40.00 target price on Planet Labs PBC in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 price target on shares of Planet Labs PBC in a report on Tuesday, September 8th. New Street Research upgraded Planet Labs PBC from a “sell” rating to a “neutral” rating in a report on Friday, September 4th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Planet Labs PBC in a research report on Friday, September 4th.

Planet Labs PBC Price Performance

PL opened at $14.57 on Tuesday. The company has a market capitalization of $5.30 billion, a P/E ratio of -13.25 and a beta of 2.17. The company has a 50-day moving average of $18.90 and a 200-day moving average of $28.06. 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 has a 1-year low of $10.52 and a 1-year high of $51.76.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The business had revenue of $116.05 million for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was up 58.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) earnings per share. Equities analysts expect that Planet Labs PBC will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling at Planet Labs PBC

In other Planet Labs PBC news, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $15.23, for a total transaction of $98,903.62. Following the completion of the sale, the director owned 30,620 shares in the company, valued at $466,342.60. The trade was a 17.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ita Brennan sold 11,500 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $16.30, for a total transaction of $187,450.00. Following the sale, the director owned 250,373 shares of the company’s stock, valued at approximately $4,081,079.90. The trade was a 4.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 200,932 shares of company stock worth $3,773,161. Company insiders own 16.42% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Capital Advisory LLC bought a new stake in shares of Planet Labs PBC during the 1st quarter valued at about $28,000. Western Wealth Management LLC bought a new position in Planet Labs PBC in the first quarter worth about $28,000. Pittenger & Anderson Inc. lifted its holdings in Planet Labs PBC by 40.9% in the first 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 last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Planet Labs PBC in the first quarter valued at approximately $41,000. Finally, Fortitude Family Office LLC grew its holdings in shares of Planet Labs PBC by 3,035.0% during the third quarter. Fortitude Family Office LLC now owns 2,508 shares of the company’s stock valued at $41,000 after purchasing an additional 2,428 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

About Planet Labs PBC

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.