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

Shares of Planet Labs PBC (NYSE:PL) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.98.

PL has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. JMP Securities increased their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Benchmark upped their price target on Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. Finally, Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Thursday, January 30th.

Planet Labs PBC Stock Up 4.6 %

NYSE:PL opened at $3.29 on Friday. The firm has a market capitalization of $992.89 million, a P/E ratio of -8.01 and a beta of 1.56. The company has a fifty day moving average of $4.29 and a 200-day moving average of $3.82. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PL. Sterling Capital Management LLC boosted its stake in Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after buying an additional 6,072 shares during the period. Monterey Private Wealth Inc. acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $40,000. Wedbush Securities Inc. acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new position in Planet Labs PBC during the 4th quarter worth $42,000. Finally, Sciencast Management LP acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $43,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.