Planet Labs PBC (NYSE:PL) Now Covered by Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Planet Labs PBC (NYSE:PLGet Rating) in a report released on Monday, The Fly reports. The firm issued an equal weight rating and a $6.00 target price on the stock.

Separately, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Labs PBC in a research report on Monday, November 7th. They set a buy rating and a $7.00 price target on the stock.

Planet Labs PBC Stock Down 1.2 %

Shares of NYSE:PL opened at $4.87 on Monday. The company has a market cap of $1.33 billion, a PE ratio of -6.68 and a beta of 0.63. The company’s 50-day moving average price is $5.02 and its 200 day moving average price is $5.31. Planet Labs PBC has a fifty-two week low of $3.70 and a fifty-two week high of $7.51.

Planet Labs PBC (NYSE:PLGet Rating) last issued its quarterly earnings data on Wednesday, December 14th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.03. The firm had revenue of $49.70 million for the quarter, compared to the consensus estimate of $47.27 million. Planet Labs PBC had a negative net margin of 96.96% and a negative return on equity of 27.36%. As a group, equities analysts anticipate that Planet Labs PBC will post -0.63 EPS for the current year.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC acquired a new position in shares of Planet Labs PBC in the 2nd quarter worth approximately $76,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Planet Labs PBC in the 2nd quarter worth approximately $845,000. Summit Rock Advisors LP purchased a new position in shares of Planet Labs PBC in the third quarter worth approximately $559,000. TT International Asset Management LTD increased its position in shares of Planet Labs PBC by 31.0% in the second quarter. TT International Asset Management LTD now owns 77,229 shares of the company’s stock worth $334,000 after acquiring an additional 18,258 shares in the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Planet Labs PBC in the second quarter worth approximately $188,000. 43.05% of the stock is currently owned by institutional investors.

Planet Labs PBC Company Profile

(Get Rating)

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.

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