Planet Labs PBC (NYSE:PL) Receives $3.93 Consensus PT from Analysts

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $3.93.

Several research analysts have weighed in on the company. Needham & Company LLC lowered their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Craig Hallum boosted their target price on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a report on Friday, September 6th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, August 16th. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Planet Labs PBC in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group cut their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research note on Tuesday, September 10th.

Planet Labs PBC Trading Down 2.3 %

PL opened at $2.93 on Tuesday. The firm’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $2.17. The stock has a market capitalization of $859.88 million, a P/E ratio of -6.23 and a beta of 0.97. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $3.30.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. The firm had revenue of $61.09 million during the quarter, compared to analyst estimates of $61.57 million. On average, equities research analysts predict that Planet Labs PBC will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of Planet Labs PBC by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after buying an additional 5,395 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Planet Labs PBC by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after acquiring an additional 6,215 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Planet Labs PBC by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after purchasing an additional 6,910 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Planet Labs PBC by 13.0% in the 2nd quarter. Van ECK Associates Corp now owns 103,768 shares of the company’s stock valued at $193,000 after purchasing an additional 11,951 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

About Planet Labs PBC

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.