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Planet Labs Stock (NYSE:PL), Trade Ideas

Planet Labs

Planet Labs PBC is an Earth-imaging company. The company provides daily satellite data that helps businesses, governments, researchers, and journalists understand the physical world and take action.

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Goldman Sachs analyst Noah Poponak maintains Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) with a Buy and lowers the price target from $4.8 to $4.2.

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Goldman Sachs Maintains Buy on Planet Labs, Lowers Price Target to $4.2

Planet Announces Planet Insights Platform For Earth Observation Data

In the preceding three months, 4 analysts have released ratings for Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>), presenting a wide array of perspectives from bullish to bearish.
The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $4.72, a high estimate of $7.00, and a low estimate of $3.90. Experiencing a 5.6% decline, the current average is now lower than the previous average price target of $5.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1712260872_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The perception of Planet Labs by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jason Gursky</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$3.90</td>
<td>$4.50</td>
</tr>
<tr>
<td>Josh Sullivan</td>
<td>Benchmark</td>
<td>Lowers</td>
<td>Buy</td>
<td>$4.00</td>
<td>$5.00</td>
</tr>
<tr>
<td>Trevor Walsh</td>
<td>JMP Securities</td>
<td>Lowers</td>
<td>Market Outperform</td>
<td>$4.00</td>
<td>$5.50</td>
</tr>
<tr>
<td>Ryan Koontz</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$7.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Planet Labs. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Planet Labs compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Planet Labs's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Planet Labs's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Planet Labs analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into Planet Labs's Background</h2>
Planet Labs PBC is an Earth-imaging company. The company provides daily satellite data that helps businesses, governments, researchers, and journalists understand the physical world and take action.
<h3>Planet Labs: Financial Performance Dissected</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Planet Labs's remarkable performance in 3 months is evident. As of 31 January, 2024, the company achieved an impressive revenue growth rate of 11.09%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.
Net Margin: Planet Labs's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -51.12%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Planet Labs's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -5.72%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Planet Labs's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -4.25%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a below-average debt-to-equity ratio of 0.05, Planet Labs adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 4 Analyst Ratings For Planet Labs

Citigroup analyst Jason Gursky maintains Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) with a Buy and lowers the price target from $4.5 to $3.9.

Citigroup Maintains Buy on Planet Labs, Lowers Price Target to $3.9

Benchmark analyst Josh Sullivan maintains Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) with a Buy and lowers the price target from $5 to $4.

Benchmark Maintains Buy on Planet Labs, Lowers Price Target to $4

JMP Securities analyst Trevor Walsh maintains Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) with a Market Outperform and lowers the price target from $5.5 to $4.

JMP Securities Maintains Market Outperform on Planet Labs, Lowers Price Target to $4

Needham analyst Ryan Koontz reiterates Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) with a Buy and maintains $7 price target.

Reiteration

Needham Reiterates Buy on Planet Labs, Maintains $7 Price Target

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.planet.com%2F&amp;esheet=53916570&amp;newsitemid=20240328983767&amp;lan=en-US&amp;anchor=Planet+Labs+PBC&amp;index=1&amp;md5=0f3fb5440f1336a4d4419f41159b3d7a">Planet Labs PBC</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>), a leading provider of daily data and insights about Earth, today announced it has signed a multi-year data-license agreement with Carbon Mapper, Inc. to provide hyperspectral core imagery to the non-profit and its partners until 2030. The $20 million agreement is made possible by initial funding led by a major climate philanthropy. Carbon Mapper, Inc. has been a key partner to Planet in developing the Tanager hyperspectral constellation, and this contract extension marks an important step in the continuation of the coalition's shared mission to help improve understanding of and accelerate reductions in global methane and carbon dioxide (CO2) emissions.
"Securing this continued partnership with Planet will help Carbon Mapper deliver high resolution methane and CO2 super-emitter data to decision makers around the globe," said Riley Duren, Carbon Mapper's Chief Executive Officer. "In particular, this agreement lays the groundwork for further expansion of the constellation of Tanager satellites and the extension of Carbon Mapper's mission to make methane and CO2 visible in a transparent fashion through our public data portal."
"We are on the verge of being able to precisely characterize facility-scale methane emissions across the globe," said Mark Keremedjiev, Planet's Mission Director for the Tanager Hyperspectral Mission. "We believe the Tanager constellation will help enable real action in the fight against climate change and this contract extension with Carbon Mapper ensures our ability to provide uniquely powerful data for the long term."
The first Tanager satellite is planned to launch in 2024 and is designed to capture hyperspectral imagery across the visible and shortwave infrared regions (VSWIR). This contract marks an extension to an existing data-license agreement between Planet and Carbon Mapper. The multi-year extension covers 2026 to 2030. Beyond methane detection and CO2 measurements, Tanager data are planned to address a wide-range of potential use cases across commercial, civil, and defense applications.

Contracts

Planet to Provide Carbon Mapper, Inc. with Hyperspectral Data Until 2030 In $20M Agreement

First Quarter Financial Outlook
For the first quarter of fiscal year 2025, ending April 30, 2024, Planet expects revenue to be in the range of approximately $58 million to $61 million, representing approximately 13% year-over-year growth at the midpoint. Non-GAAP Gross Margin is expected to be in the range of approximately 50% to 52%. Adjusted EBITDA loss is expected to be in the range of approximately ($11) million and ($9) million for the quarter. Capital Expenditures are expected to be in the range of approximately $14 million and $17 million for the quarter.
Planet has not reconciled its Non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses and depreciation and amortization are uncertain or out of Planet's control and cannot be reasonably predicted. The actual amount of these expenses during the first quarter of fiscal year 2025 will have a significant impact on Planet's future GAAP financial results. Accordingly, a reconciliation of Planet's Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts.
The foregoing forward-looking statements reflect Planet's expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially.

Guidance

Planet Labs Sees Q1 Revenue $58M-$61M Vs $60.27M	 Est.

Planet Labs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) reported quarterly losses of $(0.11) per share which missed the analyst consensus estimate of $(0.06) by 83.33 percent. This is a 21.43 percent increase over losses of $(0.14) per share from the same period last year. The company reported quarterly sales of $58.85 million which beat the analyst consensus estimate of $58.19 million by 1.14 percent. This is a 11.09 percent increase over sales of $52.98 million the same period last year.