Planet Labs PBC (NYSE:PL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Planet Labs PBC (NYSE:PL) from a sell rating to a hold rating in a research report report published on Friday morning.

A number of other equities analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Citigroup lifted their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Friday. Wedbush raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.38.

Planet Labs PBC Trading Down 2.0%

PL stock opened at $5.84 on Friday. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71. The firm has a market cap of $1.77 billion, a P/E ratio of -14.24 and a beta of 1.61. The stock’s 50 day simple moving average is $3.61 and its 200 day simple moving average is $4.17.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $66.27 million for the quarter, compared to analysts’ expectations of $62.25 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. On average, research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Institutional Trading of Planet Labs PBC

A number of institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after purchasing an additional 6,072 shares in the last quarter. Iron Gate Global Advisors LLC acquired a new position in Planet Labs PBC during the 1st quarter worth approximately $36,000. HighTower Advisors LLC bought a new position in Planet Labs PBC in the first quarter worth approximately $37,000. Forum Financial Management LP acquired a new stake in shares of Planet Labs PBC in the 1st quarter worth about $39,000. Finally, Wellington Shields & Co. LLC bought a new position in Planet Labs PBC in the 1st quarter valued at about $39,000. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.