Planet Labs PBC (NYSE:PL – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03), FiscalAI reports. The company had revenue of $94.15 million during the quarter, compared to the consensus estimate of $90.00 million. Planet Labs PBC had a negative return on equity of 69.61% and a negative net margin of 80.22%.
Planet Labs PBC Stock Performance
Shares of Planet Labs PBC stock traded up $0.32 during trading hours on Thursday, reaching $43.45. The company had a trading volume of 16,707,417 shares, compared to its average volume of 12,934,354. Planet Labs PBC has a one year low of $4.90 and a one year high of $51.76. The business has a fifty day simple moving average of $38.62 and a 200 day simple moving average of $27.37. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.65 and a quick ratio of 1.64. The firm has a market cap of $15.04 billion, a PE ratio of -55.70 and a beta of 1.99.
Analyst Ratings Changes
A number of analysts recently commented on the company. Needham & Company LLC increased their price target on Planet Labs PBC to $40.00 and gave the company a “buy” rating in a research report on Friday, March 20th. The Goldman Sachs Group increased their price target on Planet Labs PBC from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Citigroup increased their price target on Planet Labs PBC from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Zacks Research lowered Planet Labs PBC from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered Planet Labs PBC from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Planet Labs PBC has a consensus rating of “Hold” and a consensus target price of $30.61.
Insiders Place Their Bets
In other news, CFO Ashley F. Johnson sold 200,000 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $35.10, for a total value of $7,020,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,895,162 shares of the company’s stock, valued at $66,520,186.20. This trade represents a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $35.07, for a total value of $2,584,062.81. Following the completion of the transaction, the insider directly owned 256,488 shares of the company’s stock, valued at $8,995,034.16. The trade was a 22.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.42% of the stock is owned by company insiders.
Hedge Funds Weigh In On Planet Labs PBC
Large investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its stake in Planet Labs PBC by 92.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after buying an additional 745 shares during the period. Larson Financial Group LLC bought a new stake in Planet Labs PBC during the third quarter valued at $39,000. Advisory Services Network LLC bought a new stake in Planet Labs PBC during the third quarter valued at $56,000. Wexford Capital LP bought a new stake in Planet Labs PBC during the third quarter valued at $63,000. Finally, Quarry LP bought a new stake in Planet Labs PBC during the third quarter valued at $66,000. 41.71% of the stock is owned by institutional investors.
Planet Labs PBC Company Profile
Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.
Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.
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