Key Points
- Director John Raymond sold 6,494 Planet Labs shares at an average price of $15.23, generating approximately $98,904 and reducing his stake by 17.5% to 30,620 shares.
- Planet Labs exceeded quarterly expectations, reporting $0.02 in EPS versus a projected loss of $0.02 and revenue of $116.05 million, up 58.2% year over year. However, the company remains unprofitable, with a negative net margin of 95.13%.
- Analyst sentiment is broadly cautious, with an average “Hold” rating and a $31.56 price target, while PL shares have traded between $10.52 and $51.76 over the past year.
Planet Labs PBC (NYSE:PL - Get Free Report) Director John 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 sale, the director owned 30,620 shares of the company's stock, valued at $466,342.60. This trade represents a 17.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
Planet Labs PBC Stock Performance
PL opened at $14.12 on Thursday. Planet Labs PBC has a 1-year low of $10.52 and a 1-year high of $51.76. The company has a market cap of $5.14 billion, a price-to-earnings ratio of -12.83 and a beta of 2.17. The company's fifty day moving average price is $19.06 and its two-hundred day moving average price is $28.17. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.04. The firm had revenue of $116.05 million during 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 business's revenue was up 58.2% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. On average, analysts expect that Planet Labs PBC will post -0.63 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PL. New Street Research upgraded Planet Labs PBC from a "sell" rating to a "neutral" rating in a research note on Friday, September 4th. Wedbush began coverage on Planet Labs PBC in a report on Wednesday, July 1st. They set an "outperform" rating and a $50.00 price objective for the company. Citizens Jmp reissued a "market perform" rating on shares of Planet Labs PBC in a research note on Friday, September 4th. Zacks Research upgraded Planet Labs PBC from a "strong sell" rating to a "hold" rating in a report on Thursday, July 2nd. Finally, Barclays began coverage on Planet Labs PBC in a research report on Friday, October 9th. They set an "equal weight" rating and a $17.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $31.56.
Read Our Latest Stock Report on PL
Planet Labs PBC News Summary
Here are the key news stories impacting Planet Labs PBC this week:
- Positive Sentiment: Planet Labs was selected by the European Space Agency to build Slovenia’s Space Resilience Node. The project will use satellite data to automate threat detection, potentially expanding Planet’s government, defense and disaster-monitoring opportunities. Planet Selected by European Space Agency to Build Slovenia’s Space Resilience Node
- Positive Sentiment: Analysts cited an average price target of $31.56 for Planet Labs, implying substantial upside from recent trading levels, although target prices do not guarantee future performance. Planet Labs PBC Stock Has Average Target Price of $31.56
- Neutral Sentiment: Goldman Sachs maintained its Hold rating on Planet Labs, signaling that the firm sees limited near-term conviction despite the company’s long-term satellite-imaging potential. Goldman Sachs Sticks to Their Hold Rating for Planet Labs PBC
- Neutral Sentiment: A recent analysis questioned whether Planet Labs is undervalued after its shares fell more than 50%, warning that the decline alone does not establish a compelling buying opportunity. Is Planet Labs an Undervalued Space Stock to Buy Right Now
- Negative Sentiment: Director John W. Raymond sold 6,494 shares for approximately $98,904, reducing his holdings by 17.5%. Insider selling can pressure sentiment, although the transaction does not necessarily indicate a change in the company’s outlook. SEC Insider Transaction Filing
- Negative Sentiment: Coverage highlighted a widening valuation gap, adding to concerns that Planet Labs remains expensive relative to its fundamentals after its recent decline. Planet Labs Drops as Valuation Gap Widens
- Negative Sentiment: Weakness across space stocks, including concerns about competitive threats from SpaceX’s direct-to-cell satellite services, also weighed on sentiment toward Planet Labs and the broader sector. Space Stocks Decline on SpaceX Competition Concerns
Institutional Trading of Planet Labs PBC
Several institutional investors have recently made changes to their positions in PL. Fortitude Family Office LLC grew its position in Planet Labs PBC by 3,035.0% in the 3rd quarter. Fortitude Family Office LLC now owns 2,508 shares of the company's stock worth $41,000 after purchasing an additional 2,428 shares in the last quarter. Catalyst Private Wealth LLC bought a new position in shares of Planet Labs PBC during the 3rd quarter worth approximately $342,000. Mirador Capital Partners LP boosted its stake in shares of Planet Labs PBC by 6.2% in the 3rd quarter. Mirador Capital Partners LP now owns 12,910 shares of the company's stock worth $212,000 after buying an additional 753 shares during the last quarter. Green Alpha Advisors LLC purchased a new position in shares of Planet Labs PBC in the 3rd quarter worth approximately $835,000. Finally, Farther Finance Advisors LLC boosted its stake 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 last quarter. Institutional investors own 41.71% of the company's stock.
About Planet Labs PBC
(
Get Free Report)
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.
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