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

Shares of Planet Labs PBC (NYSE:PL) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.30.

A number of equities research analysts have weighed in on the company. Craig Hallum lowered their target price on Planet Labs PBC from $3.00 to $2.00 and set a “hold” rating for the company in a report on Friday, June 7th. Needham & Company LLC reiterated a “buy” rating and issued a $7.00 price objective on shares of Planet Labs PBC in a research note on Friday, June 21st. JMP Securities reiterated a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a report on Friday, April 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Xponance Inc. bought a new position in shares of Planet Labs PBC in the fourth quarter valued at approximately $25,000. Bleakley Financial Group LLC purchased a new stake in Planet Labs PBC in the 4th quarter valued at $28,000. Simplicity Solutions LLC bought a new position in Planet Labs PBC during the 4th quarter valued at $28,000. Perkins Coie Trust Co purchased a new position in Planet Labs PBC during the 2nd quarter worth $28,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Planet Labs PBC in the 4th quarter worth $34,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

Shares of NYSE PL opened at $2.14 on Friday. The company’s 50 day moving average price is $2.02 and its 200-day moving average price is $2.08. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $3.54. The company has a market capitalization of $620.80 million, a P/E ratio of -4.45 and a beta of 0.99.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Planet Labs PBC had a negative net margin of 59.26% and a negative return on equity of 25.89%. The firm had revenue of $60.44 million during the quarter, compared to analyst estimates of $59.80 million. During the same quarter in the previous year, the firm earned ($0.13) EPS. Analysts forecast that Planet Labs PBC will post -0.4 earnings per share for the current year.

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.