Zacks: Brokerages expect Planet Labs PBC (NYSE:PL) to report quarterly sales of $39.46 million
Brokers expect Planet Labs PBC (NYSE: PL – Get Rating) to post sales of $39.46 million for the current fiscal quarter, reports Zacks Investment Research. Three analysts have made earnings estimates for Planet Labs PBC, with the lowest sales estimate of $39.30 million and the highest estimate of $39.70 million. The company is expected to release its next earnings report after the market closes on Monday, January 1.
On average, analysts expect Planet Labs PBC to post annual sales of $180.37 million for the current year, with estimates ranging from $178.50 million to $182.30 million. . For next year, analysts expect the company to record sales of $259.62 million, with estimates ranging from $252.76 million to $267.60 million. Zacks sales calculations are an average based on a survey of analysts who cover Planet Labs PBC.
Planet Labs PBC (NYSE:PL – Get Rating) last released its results on Thursday, March 31. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.07). The company posted revenue of $37.15 million for the quarter, versus analyst estimates of $35.95 million.
Separately, Zacks Investment Research upgraded shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research report Wednesday. One research analyst rated the stock with a hold rating and four gave the company a buy rating. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $10.38.
Shares of Planet Labs PBC opened at $5.83 on Friday. The stock has a 50-day moving average price of $5.27. Planet Labs PBC has a fifty-two week low of $3.70 and a fifty-two week high of $12.15.
Hedge funds have recently been buying and selling stocks. Sei Investments Co. acquired a new equity stake in Planet Labs PBC during the fourth quarter worth approximately $27,000. Bank of America Corp DE acquired a new equity stake in Planet Labs PBC during the fourth quarter worth approximately $38,000. Tradewinds Capital Management LLC acquired a new equity stake in Planet Labs PBC during the fourth quarter worth approximately $39,000. GoalVest Advisory LLC acquired a new stake in shares of Planet Labs PBC during the first quarter worth approximately $41,000. Finally, Quantbot Technologies LP acquired a new equity stake in Planet Labs PBC during the first quarter worth approximately $45,000. Institutional investors and hedge funds own 43.33% of the company’s shares.
About Planet Labs PBC (Get a rating)
Planet Labs PBC designs, builds and launches constellations of satellites to provide high-rate geospatial data delivered to customers via an online platform worldwide. The company offers Open Geospatial Consortium, a proprietary, cloud-native technology that performs critical image processing and global harmonization for time series and data fusion and analysis; and space hardware and related software systems.
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