Planet Labs PBC (NYSE:PL) Expected to Post Quarterly Sales of $39.46 Million

Analysts expect Planet Labs PBC (NYSE:PLGet Rating) to announce $39.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Planet Labs PBC’s earnings, with estimates ranging from $39.30 million to $39.70 million. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Planet Labs PBC will report full-year sales of $180.37 million for the current financial year, with estimates ranging from $178.50 million to $182.30 million. For the next fiscal year, analysts forecast that the business will report sales of $259.62 million, with estimates ranging from $252.76 million to $267.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Planet Labs PBC.

Planet Labs PBC (NYSE:PLGet Rating) last released its quarterly earnings results on Thursday, March 31st. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.07). The firm had revenue of $37.15 million for the quarter, compared to analyst estimates of $35.95 million.

A number of equities research analysts have issued reports on the company. Needham & Company LLC assumed coverage on Planet Labs PBC in a research note on Thursday, January 27th. They issued a “buy” rating and a $10.50 target price on the stock. Zacks Investment Research upgraded Planet Labs PBC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $10.38.

PL traded up $0.28 during trading hours on Friday, hitting $4.84. 39,937 shares of the stock were exchanged, compared to its average volume of 1,810,630. The stock has a 50-day simple moving average of $5.12. Planet Labs PBC has a 12 month low of $3.70 and a 12 month high of $12.15.

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. acquired a new position in Planet Labs PBC during the fourth quarter worth about $27,000. Bank of America Corp DE purchased a new position in Planet Labs PBC in the 4th quarter worth about $38,000. Tradewinds Capital Management LLC purchased a new position in Planet Labs PBC in the 4th quarter worth about $39,000. GoalVest Advisory LLC purchased a new position in Planet Labs PBC in the 1st quarter worth about $41,000. Finally, Quantbot Technologies LP purchased a new position in Planet Labs PBC in the 1st quarter worth about $45,000. 43.33% of the stock is currently owned by hedge funds and other institutional investors.

About Planet Labs PBC (Get Rating)

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.

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