Planet Labs PBC (NYSE:PL – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $22.47, but opened at $21.72. Planet Labs PBC shares last traded at $22.6960, with a volume of 1,649,027 shares traded.
Wall Street Analyst Weigh In
PL has been the subject of several recent research reports. Weiss Ratings raised Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Craig Hallum upped their price objective on Planet Labs PBC from $36.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. The Goldman Sachs Group upped their price objective on Planet Labs PBC from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Needham & Company LLC increased their price objective on Planet Labs PBC from $40.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Northland Securities set a $50.00 target price on shares of Planet Labs PBC in a research note on Friday, June 5th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Planet Labs PBC has an average rating of “Hold” and an average target price of $35.36.
Planet Labs PBC Stock Performance
Planet Labs PBC (NYSE:PL – Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $94.15 million during the quarter, compared to analysts’ expectations of $90.39 million. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business’s revenue was up 42.1% compared to the same quarter last year. As a group, research analysts anticipate that Planet Labs PBC will post -0.92 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director John W. Raymond sold 6,494 shares of Planet Labs PBC 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 in the company, valued at approximately $970,902.24. The trade was a 14.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert H. Schingler sold 25,000 shares of Planet Labs PBC 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 $648,000.00. Following the transaction, the insider owned 225,171 shares of the company’s stock, valued at $5,836,432.32. This represents a 9.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 96,087 shares of company stock valued at $2,492,134. Insiders own 16.42% of the company’s stock.
Institutional Investors Weigh In On Planet Labs PBC
Several hedge funds have recently added to or reduced their stakes in PL. American Capital Advisory LLC bought a new position in Planet Labs PBC during the first quarter worth $28,000. Western Wealth Management LLC bought a new position in shares of Planet Labs PBC in the first quarter valued at about $28,000. Pittenger & Anderson Inc. raised its position in shares of Planet Labs PBC by 40.9% in the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth about $41,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Planet Labs PBC by 92.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock worth $31,000 after buying an additional 745 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.
About Planet Labs PBC
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.
Featured Articles
- Five stocks we like better than Planet Labs PBC
- AI Data Centers Need Power, and These 2 Industrials Are Cashing In
- 5 Stocks Quietly Trading Near All-Time Highs While Everyone Watches the AI Drama
- Meta Platforms Turns AI Power Scarcity Into a $10 Billion Cloud Bet
- 3 Nuclear Stocks for Investors Willing to Wait Out the Dip
Receive News & Ratings for Planet Labs PBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Labs PBC and related companies with MarketBeat.com's FREE daily email newsletter.
