Planet Labs PBC (NYSE:PL) Given Average Recommendation of “Moderate Buy” by Brokerages

Planet Labs PBC (NYSE:PL) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $4.68.

A number of equities research analysts have issued reports on the company. Benchmark decreased their target price on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Planet Labs PBC in a research report on Monday, April 1st. Citigroup decreased their target price on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group cut their price target on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, JMP Securities cut their target price on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research note on Monday, April 1st.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PL. Vontobel Holding Ltd. boosted its holdings in Planet Labs PBC by 41.6% during the third quarter. Vontobel Holding Ltd. now owns 53,174 shares of the company’s stock worth $138,000 after buying an additional 15,626 shares during the last quarter. Ritholtz Wealth Management bought a new position in Planet Labs PBC during the third quarter worth about $44,000. Exchange Traded Concepts LLC boosted its holdings in Planet Labs PBC by 8.9% during the third quarter. Exchange Traded Concepts LLC now owns 928,654 shares of the company’s stock worth $2,414,000 after buying an additional 75,820 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Planet Labs PBC by 744.5% during the third quarter. Commonwealth Equity Services LLC now owns 118,321 shares of the company’s stock worth $308,000 after buying an additional 104,311 shares during the last quarter. Finally, Raymond James & Associates bought a new position in Planet Labs PBC during the third quarter worth about $49,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Trading Down 3.2 %

Shares of Planet Labs PBC stock opened at $1.69 on Friday. The company’s 50-day moving average price is $2.12 and its two-hundred day moving average price is $2.24. The stock has a market cap of $489.69 million, a PE ratio of -3.30 and a beta of 0.78. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $5.00.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, March 28th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Planet Labs PBC had a negative return on equity of 26.14% and a negative net margin of 63.67%. The company had revenue of $58.85 million for the quarter, compared to analysts’ expectations of $57.64 million. On average, equities analysts predict that Planet Labs PBC will post -0.41 EPS 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.