Planet Labs PBC (PL)

[Rock_nj]

Thanks! I have a feeling this selloff is technical in nature as flippers from the merger event exit. I hope it reverses hard to the upside once the company lays out its vision to the market.

[wiredawg]

Current ownerships: 77%+ Investment Managers and almost 4% Brokerage Firms.

I know of 3 different Analysts:

dMY Technology Group IV initiated with a Buy at Benchmark Benchmark analyst Josh Sullivan initiated coverage of dMY Technology Group IV - which is in the process of merging with Planet Labs - with a Buy rating and $17 price target. Planet Labs has a unique satellite imagery constellation portfolio that includes both a high-resolution constellation combined with "the world's largest Earth Observation constellation capable of imagining the entire Earth daily," making it simultaneously a play on space markets, software and data analytics, Sullivan tells investors. As established playe, he believes Planet Labs' unique data services platform will be an "emerging force in sustainability monitoring/enforcement as well as global business operations digitalization," the analyst added.

Read more at:
https://thefly.com/n.php?id=3404731

dMY Technology Group IV initiated with an Outperform at Northland Northland analyst Michael Latimore initiated coverage of dMY Technology Group IV - which is in the process of merging with Planet Labs - with an Outperform rating and $16 price target. Planet is "the first and only data subscription company that captures a picture daily of every inch of the globe" and such unique properties give it an attractive business model with high recurring revenue and growth, Latimore tells investors. He forecasts 15% growth in FY22 and 46% in FY23 for Planet, noted Latimore.

Read more at:
https://thefly.com/n.php?id=3405901

dMY Technology Group IV initiated with a Buy at Craig-Hallum Craig-Hallum analyst Jeff Van Rhee initiated coverage of dMY Technology Group IV with a Buy rating and $15 price target.

Read more at:
https://thefly.com/n.php?id=3377600

[jbsliverer]

I don't know, the market has it's ways that can be disappointing. There was over 2.5 million shares traded today, so there has to be many who wanted to buy. There has been a change of money toward value instead of growth or speculative, along with tax selling and other factors making for a pretty volatile market. PL has only got a few days under it's belt, so can't even get any bead on the chart, and we don't have any fundamentals acquired or the normal valuation analysis yet as a public company. It doesn't have the "crowd" behind it for a meme stock, or dine and dash spikes, so I would expect a boring slow going effect at first and for the rest of year. But you never know, it could surge upward or downward any time for no obvious reason.

We do know that Planet is not just a new company, has some big names/money behind this and a partnership with Google. They also own the largest fleet of satellites around the world with paying customers. We also know that the space industry will be growing at a pretty high rate in the next few years with a rush to claim and gain as much control over the "final frontier" real estate. PL has a pretty good start in that endeavor.

It's all speculative and higher risk, but I'm looking toward next year a few months from now to start seeing progress and the chance for them to use that “sizable war chest to really think about strategic moves,” that they have with the half a billion in capitol they got from listing. Space is an expensive business.

So we'll have to see what the future will bring, whether the air goes completely flat or gets pressurized. But I do think we need to give a bit more than a few days and look past the current market volatility or corrections.

The only ratings I've seen is rating a buy, that's all I can say, and everyone will have to make their own analysis.

[WebSlinger]

I think it takes about 2 weeks (after deSPAC) before analyst ratings are announced.

[Rock_nj]

Are any analysts following PL? Ratings?

[Rock_nj]

So what’s up with PL? I thought this stock was one people wanted to buy.

[jbsliverer]

We Rate Planet Labs A Buy As The SPAC Merger Completion Looms
Dec. 07, 2021 7:40 PM ETPlanet Labs PBC - Class A (PL)11 Comments16 Likes
Cestrian Space Select profile picture
Cestrian Space Select
Marketplace
Growth, Long-Term Horizon, Aerospace & Defense, Tech

Contributor Since 2021

Cestrian Capital Research, Inc is an SEC-registered investment research business, covering the space and tech sectors. If you like our work, sign up for our FREE newsletter, here: https://newsletter.cestriancapitalresearch.com
Summary
Planet Labs is likely to complete its merger with the SPAC shell DMYQ shortly.
This Google-backed Earth observation business features solid revenue growth, improving gross margins, and what looks to be a high level of support from SPAC shareholders.
It's early days for the stock as a public security but there's much to like about the business.
We rate the stock a Buy and own the name in staff personal accounts.
Looking for more investing ideas like this one? Get them exclusively at Cestrian Space Select. Learn More »
Person Hidden in Bush Peeping with Binoculars and Spying Others
maradek/iStock via Getty Images

DISCLAIMER: This note is intended for US recipients only and in particular is not directed at, nor intended to be relied upon by any UK recipients. Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Nothing in this note is intended to be investment advice and nor should it be relied upon to make investment decisions. Cestrian Capital Research, Inc., its employees, agents or affiliates, including the author of this note, or related persons, may have a position in any stocks, security or financial instrument referenced in this note. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice. Companies referenced in this note or their employees or affiliates may be customers of Cestrian Capital Research, Inc. Cestrian Capital Research, Inc. values both its independence and transparency and does not believe that this presents a material potential conflict of interest or impacts the content of its research or publications.

The Only Way Is... Up?
There's a famous quote about the stock market - it goes something like this: Nobody knows which way the market will move tomorrow, but I will tell you the direction of its move over the next 10 years, and that is... UP. And by and large that quote has held true. When a new hot sector comes along, and venture capital money flows into it, generally you can say... I'm not sure which of these companies will move up or down tomorrow, but I can tell you the direction of their move over the next ten years, and that is... UP.

This is the best way to look at space sector investments in our view. If you've read our work on the sector you've seen us say over and over since we got started on this beat in 2017 that the sector is early stage, risky, featuring heavy customer concentration and even heavier capex, and all in all not for the faint of heart. Now that a slew of space sector companies have made the public market their home, thanks to the SPAC boom, that view has not changed.

If you want an easy and relaxing time, consider following Mr. Buffett's advice and buy a passive S&P 500 tracker, feed it cash every now and then, and spend the rest of the time not looking at the screen but instead playing golf. Well, at least until the Big One hits. If on the other hand you wish to try your luck riding out the long-run gains we think are available among these new space stocks - you may like to consider owning Planet Labs (currently, the snappy-sounding dMY Technology Group, Inc. IV (DMYQ), soon to trade as PL).

Planet Labs is one of the venture capital-backed space startups that sprang up over the last decade or so as launch costs began to fall and satellite hardware costs follow suit. The company provides Earth observation services to government and commercial clients. "Earth observation" is a very widely used term and that wide definition leads to confusion in investors' minds about exactly what companies in the sector do for a living.

The clearest definition of this we've yet heard came directly from Spire Global (SPIR) CEO Peter Platzer. We recently hosted a live subscriber-only Q&A session with Platzer - he was asked the inevitable question, what's the difference between Spire, Planet and so forth. His answer was - satellites typically do one of three things: Watch, listen, or speak. Optical range satellites watch; RF range satellites listen; transmission spacecraft (think high throughput transponders used by Sirius XM, DirecTV and others) talk.

Planet uses optical-range spacecraft to image the Earth, collect and analyze data, and supply both images and data to its customers. It operates in the modern idiom i.e., it runs a large number of small devices with a high repeat-pass rate (eg. 10x/day average revisits by its SkySat devices). You could think of Planet as an iPad vs. the mainframe operated by Maxar Technologies (MAXR). If you want a high-powered, weapons-grade full-on security service-rated pass over your target, pay Maxar a whole lot of money. If you want a fast view of what's going on, and you want to monitor changes using that high repeat rate, you pay Planet less money. Simple. Planet's September investor presentation remains worth reading if you haven't already.

Financials on Planet will become clearer as the company delivers sequential SEC reports in its fully de-SPAC'd role. Until then we can highlight what we know from the scant material published thus far.



Source: Company SEC filings, Cestrian Analysis

The revenue line can be treated as reliable, and it shows solid growth, albeit at a declining rate. The company will need to arrest that decline and re-accelerate if it's going to deliver a medium-term gain in the stock price. Gross margin has improved materially - for a business like this, dependent on many third parties for satellite componentry and so forth, 40% isn't so bad. EBITDA you can take with a large pinch of salt, since we don't have the full underlying operating income, depreciation & amortization and stock-based compensation schedules; and as for cash flow, well, no idea, since we don't have time-series capex and change in net working capital data. Let's assume cash flow is ugly vs. EBITDA but let's also hope it can improve over time.

The balance sheet at the completion of the SPAC deal should look sound. Current indications are that at least $590m of net cash will land on the operating company's balance sheet. Don't be under the illusion that this is sufficient - it isn't, and at some point the company will raise further cash likely as dilutive equity until such time as debt becomes viable.

The stock chart is so young that it tells you nothing at all, yet.



Source: TradingView (full page chart here)

But that big move up you see at the far right edge of the chart? That's the market feeling good about the high level of shareholder acceptances in the SPAC deal. And we agree with that sentiment. We think Planet will be a speculative buy for some time yet, but a Buy it is in our view. In space as in all things innovation, low cost is the strategy to back. Nobody got poor buying a basket of cost leaders in the tech industry as it has evolved, and we think that's going to be true in space too - Rocket Lab (RKLB), a very low-cost launch provider, is proving this out already.

So as the SPAC deal completion is in the air, and the new ticker beckons, we rate Planet a Buy. If you own the stock or are thinking of doing so, we suggest you will consider the rather spiky risk profile of cash-burning companies this young in their lives as public securities. In staff personal accounts we solve for that with allocation size. We own DMYQ very happily on that basis and we're excited to see what comes next in the company's evolution once the SPAC deal is behind them.

Cestrian Capital Research, Inc. - 7 December 2021.

Space Select brings you exclusive space stock picks from leading independent research business, Cestrian Capital Research, Inc.

We cover the full range of stocks, from new-entrant SPAC deals such as RocketLab, Blacksky or Planet, through to the major prime contractors such as Raytheon or L3Harris, taking in established independents such as Maxar and Iridium.
Our member community includes many longstanding space sector investors and space sector professionals, which means our chatroom is unusually well informed!

Join Cestrian Space Select today.




This article was written by

Cestrian Space Select profile picture
Cestrian Space Select
445 Followers
Author of
Cestrian Space Select
Specialist space sector service; capital gain, income & speculative picks.
Growth, Long-Term Horizon, Aerospace & Defense, Tech

Contributor Since 2021

Cestrian Capital Research, Inc is an SEC-registered investment research business, covering the space and tech sectors. If you like our work, sign up for our FREE newsletter, here: https://newsletter.cestriancapitalresearch.com
Disclosure: I/we have a beneficial long position in the shares of DMYQ, SPIR, MAXR, RKLB either through stock ownership, options, or other derivatives. Business relationship disclosure: See disclaimer text at the top of this article.

Additional disclosure: Cestrian Capital Research, Inc staff personal accounts hold long positions in, inter alia, DMYQ, SPIR, MAXR and RKLB.

11 Comments

Like This Article

Share

Print
Comment
Recommended For You
Comments
Sort byNewest
About This Article
Ticker Covered
PL
Author's rating at publication
Bullish
Author's Rating History
Author's full rating history »
About PL
Symbol Last Price % Chg
PL
11.14
3.01%
1D
5D
1M
6M
1Y
5Y
10Y
Market Cap
$425.21M
PE
-
Yield (FWD)
-
Rev Growth (YoY)
-
Short Interest
1.63%
PL Ratings
SA Author
Very Bullish
4.50
Wall Street
Very Bullish
5.00
Quant
Not Covered
-
More on PL
Planet Labs rallies for second straight day after SPAC closing
dMY Technology stockholders approve merger with Planet
50% Pop Coming For Planet Labs
50% Pop Coming For Planet Labs
Satellite firm Planet Labs to use SPAC money for investment, customer boost


https://seekingalpha.com/article/4473961-planet-labs-at-buy-spac-merger-completion

[wiredawg]

From this morning (8Dec2021 first day of trading PL):

https://www.cnbc.com/video/2021/12/08/planet-labs-goes-public-via-spac.html

[wiredawg]

https://www.planet.com/

[wiredawg]

Meh, not looking for that explosion that inevitably ends in a bust...thought, I do understand those that are trading for the dollars...

GLTA!!! Around the Planet ALL!!! LOL

[wiredawg]

Done...board now reflects PL...thanks WebSlinger or Jjbsliverer... :)

[wiredawg]

Posting, just to get my required 5 posts in. :)
https://www.cnbc.com/2021/12/08/satellite-imagery-company-planet-begins-trading-on-the-nyse.html

[jbsliverer]

https://seekingalpha.com/news/3778325-planet-labs-rallies-for-second-straight-day-after-spac-closing

Planet Labs rallies for second straight day after SPAC closing
Dec. 08, 2021 10:37 AM ETPlanet Labs PBC - Class A (PL)By: Clark Schultz, SA News Editor3 Comments
Wooden blocks with word SPAC. Special-purpose acquisition company. A easy way stock exchange financial instrument for attracting investments. Development of new simplified procedures for investment
Andrii Yalanskyi/iStock via Getty Images

Planet Labs PBC (NYSE:PL) is up 2.68% after gaining more than 9% yesterday in its post-SPAC public debut.
The company has raised more than $450 million in VC funding, most of which has gone to building out its satellite fleet, which has 450 launched since a 2010 founding
Wall Street analysts are quiet so far on Planet Labs, but the stock has pretty good backing on Seeking Alpha. Chris DeMuth and Cestrian Space Select both have favorable writeups. Read all the SA author breakdowns on Planet Labs.
Now Read: We Rate Planet Labs A Buy As The SPAC Merger Completion Looms

[jbsliverer]

PL getting a little life. Trending up at the moment. $11.44 a high so far.

[TrendTrade2016]

PL ready to drive here to that top band...breaking 11.50 resistance

[jbsliverer]

Notification Filed by National Security Exchange to Report the Removal From Listing and Registration of Matured, Redeemed or Retired Securities Initial Filing Amendments (25-nse)
December 08 2021 - 09:22AM
Edgar (US Regulatory)
Alert
Print
Share On Facebook
NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number 001-40166


Issuer: dMY Technology Group, Inc. IV
Exchange: NEW YORK STOCK EXCHANGE LLC
(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address: 1180 North Town Center Drive
Las Vegas,
NEVADA
89144
Telephone number: [phone]
(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)
Units, each consisting of one share of Class A common stock and one-fifth of one redeemable warrant
(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:
o 17 CFR 240.12d2-2(a)(1)
o 17 CFR 240.12d2-2(a)(2)
x 17 CFR 240.12d2-2(a)(3)
o 17 CFR 240.12d2-2(a)(4)
o Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. 1
o Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements for the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2021-12-08 By Lauren Frawley Regulation Analyst
Date Name Title

[jbsliverer]

PL a little slow out of gate. Guess it doesn't have the criteria for clown pumping, fine with me. I got in premarket at 10.6 avg. Did a small trade and then got back in at $10.35. We'll see how it goes into next yr.

[jbsliverer]

So, when can we change tickers here. PL Planet Labs

[WebSlinger]

***Planet to Announce Third Quarter 2022 Results on Monday, December 13, 2021***

Dec. 07, 2021 9:00 AM ET dMY Technology Group, Inc. IV (DMYQ)

SAN FRANCISCO--(BUSINESS WIRE)-- Planet Labs Inc. (“Planet” or the “Company”), a leading provider of daily data and insights about Earth, today announced it will release its third quarter 2022 financial results for the quarter ended October 31, 2021, after market close on Monday, December 13, 2021. Planet’s management will host a conference call to discuss the financial results and business outlook at 5:00 p.m. ET / 2:00 p.m. PT the same day.

The event will be accessible as a webcast and a conference call.

The webcast can be accessed at www.planet.com/investors. If you would like to pre-register for the webcast, please go to the following link:

https://events.q4inc.com/attendee/205904976

If you would prefer to register for the conference call, please go to the following link:

https://www.incommglobalevents.com/registration/q4inc/9524/planet-fiscal-q3-2022-earnings-call/ You will then receive your access details via email.

[WebSlinger]

***DMYQ Changes Ticker to PL (Planet Labs PBC)***

[WebSlinger]

[WebSlinger]

***PR***Planet Announces Closing of Business Combination with dMY Technology Group, Inc. IV***

Planet to Begin Trading on the New York Stock Exchange Under the Ticker “PL” on December 8th, 2021

Gross Proceeds of over $590 million to Support Expansion of Planet’s Operations and Growth Initiatives to Help Create a More Sustainable and Secure Planet



December 07, 2021 05:04 PM Eastern Standard Time

SAN FRANCISCO--(BUSINESS WIRE)--Planet Labs Inc. (“Planet”), a leading provider of daily data and insights about Earth, today announced the completion of its previously announced business combination (the “Business Combination”) with dMY Technology Group, Inc. IV, a publicly traded special purpose acquisition company (formerly NYSE: DMYQ) (“dMY IV”). The combined company has been renamed Planet Labs PBC and its shares and warrants will commence trading tomorrow, December 8th, 2021, on the New York Stock Exchange under the new ticker symbol “PL”.

“Today marks a huge milestone for Planet and our team, representing over a decade of hard work and dedication to using space to help life on earth,” said Planet co-founder and CEO Will Marshall. “Our listing on the NYSE and fully capitalized growth plan will enable us to accelerate our business and work with our partners towards creating a more sustainable and secure world.”

“Planet is a true pioneer, delivering critical insights and solutions to some of the world’s most influential companies and governments,” said Niccolo de Masi, CEO of dMY Technology Group and a member of the combined company’s board of directors. “The company’s rapidly growing and one-to-many data platform business is poised for tremendous growth as data becomes increasingly central to the global economy. With a strong leadership team in place and a growing market for data-driven insights, Planet is well-positioned to further scale the business and drive value for shareholders.”

In connection with the closing of the Business Combination, Planet received gross proceeds of over $590 million, including proceeds from the dMY IV trust account and the previously announced private placement (“PIPE”). The PIPE had participation from CPP Investments, Koch Strategic Platforms, Marc Benioff’s TIME Ventures, and existing Planet investor, Google, among others. The capital will be used to fund Planet’s operations and support new and existing growth initiatives.

The name Planet Labs PBC reflects the company’s status as a Public Benefit Corporation (PBC). Planet’s public benefit purpose is: “To accelerate humanity to a more sustainable, secure and prosperous world by illuminating environmental and social change.”

Planet’s management team, led by CEO and co-founder Will Marshall, Chief Strategy Officer and co-founder Robbie Schingler, CFO and COO Ashley Johnson, and President of Product and Business Kevin Weil, will continue to lead the public company following the Business Combination, as previously announced.

After the closing of the Business Combination, the combined company’s Board of Directors will consist of seven members: Will Marshall, Robbie Schingler, Heidi Roizen, Niccolo de Masi, Vijaya Gadde, Carl Bass and Ita Brennan.

https://www.businesswire.com/news/home/20211207006148/en/

[TrendTrade2016]

Beauty day and more to come here going into a symbol change

[TrendTrade2016]

DMYQ gapping and ready to rumble!!!

[TrendTrade2016]

DMYQ ready to rumble. Symbol change coming. Amazing technology.

[Rock_nj]

The @WSJ cites $GOOGL, $CRM CEO Marc Benioff, Canada Pension Plan, and Koch Strategic Platforms as investors, and says @planet will use SPAC proceeds to "win more customers, increase its data & software offerings, and strike more acquisitions."

[Rock_nj]

DMYQ is finally waking up with the CEO making an appearance on Monday and the Merger closing Dec 3d. Should pop a few points!

[barnyarddog]

https://www.dmytechnology.com/newsroom/

In the last year we have taken public the world’s first quantum computing company (IonQ), the world’s leading sportsbook data company (Genius Sports Group), and the leading US online casino player (Rush Street Interactive). We can’t wait to pioneer with you and aim to define an entirely new category of a public company with each dMY IPO.

https://www.dmytechnology.com/