Planet Labs PBC (NYSE:PL) Stock Lifted to Hold by Barclays

Barclays upgraded shares of Planet Labs PBC (NYSE:PL) to a hold rating in a research note issued to investors on Friday,Zacks reports.

Several other research analysts also recently weighed in on PL. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $28.00 target price on shares of Planet Labs PBC in a report on Tuesday, September 8th. Citigroup downgraded Planet Labs PBC from a “market perform” rating to a “hold” rating in a research note on Friday, September 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Planet Labs PBC in a report on Friday, September 11th. Wedbush assumed coverage on Planet Labs PBC in a report on Wednesday, July 1st. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Northland Securities set a $40.00 target price on Planet Labs PBC in a research report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.56.

Planet Labs PBC Stock Performance

Shares of NYSE PL opened at $17.19 on Friday. The firm has a 50 day moving average of $19.49 and a 200 day moving average of $28.59. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -15.63 and a beta of 2.17. Planet Labs PBC has a 12-month low of $10.52 and a 12-month high of $51.76. The company has a current ratio of 2.84, a quick ratio of 2.82 and a debt-to-equity ratio of 0.79.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 EPS for the quarter, topping the consensus estimate 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 return on equity of 93.11% and a negative net margin of 95.13%. Planet Labs PBC’s revenue was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. On average, research analysts anticipate that Planet Labs PBC will post -0.91 earnings per share for the current year.

Insider Activity

In related news, CFO Ashley Johnson sold 75,035 shares of Planet Labs PBC stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total transaction of $1,656,772.80. Following the completion of the transaction, the chief financial officer directly owned 1,132,122 shares of the company’s stock, valued at approximately $24,997,253.76. The trade was a 6.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Raymond sold 6,494 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $26.16, for a total value of $169,883.04. Following the transaction, the director owned 37,114 shares of the company’s stock, valued at $970,902.24. This trade represents a 14.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 200,932 shares of company stock valued at $3,844,141 in the last quarter. 16.42% of the stock is currently owned by company insiders.

Institutional Trading of Planet Labs PBC

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirador Capital Partners LP boosted its position in Planet Labs PBC by 6.2% in the 3rd quarter. Mirador Capital Partners LP now owns 12,910 shares of the company’s stock valued at $212,000 after buying an additional 753 shares during the period. Green Alpha Advisors LLC bought a new stake in Planet Labs PBC during the 3rd quarter valued at $835,000. Farther Finance Advisors LLC lifted its holdings in shares of Planet Labs PBC by 25.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,754 shares of the company’s stock worth $176,000 after buying an additional 2,148 shares during the period. First Community Trust NA grew its position in shares of Planet Labs PBC by 275.7% during the 3rd quarter. First Community Trust NA now owns 22,612 shares of the company’s stock worth $371,000 after buying an additional 16,594 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Planet Labs PBC by 5,339.2% during the second quarter. Tidal Investments LLC now owns 1,591,020 shares of the company’s stock valued at $52,710,000 after buying an additional 1,561,769 shares during the period. 41.71% of the stock is currently owned by institutional investors.

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.