Planet Labs PBC (NYSE:PL) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.98.

A number of equities analysts have recently commented on the stock. 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. Northland Securities upped their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research report on Friday, March 21st. Benchmark boosted their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, JMP Securities lifted their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research report on Thursday, January 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC boosted its stake in shares of Planet Labs PBC by 790.6% in 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. Forum Financial Management LP purchased a new stake in Planet Labs PBC during the first quarter valued at about $39,000. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC during the fourth quarter valued at about $40,000. Wedbush Securities Inc. bought a new position in shares of Planet Labs PBC during the fourth quarter valued at about $41,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Planet Labs PBC in the fourth quarter worth about $42,000. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Trading Down 1.3 %

PL opened at $3.47 on Tuesday. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71. The company has a market cap of $1.05 billion, a PE ratio of -8.45 and a beta of 1.56. The company has a 50 day moving average of $3.62 and a 200 day moving average of $3.94.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $61.89 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.