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

Shares of Planet Labs PBC (NYSE:PL) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.68.

Several analysts recently commented on PL shares. The Goldman Sachs Group dropped their price objective on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a research note on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 price objective on shares of Planet Labs PBC in a research note on Monday, April 1st. JMP Securities dropped their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a research note on Monday, April 1st. Citigroup dropped their price objective on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Finally, Benchmark dropped their price objective on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently modified their holdings of PL. Xponance Inc. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $25,000. Navalign LLC bought a new position in Planet Labs PBC during the fourth quarter worth about $28,000. Bleakley Financial Group LLC bought a new position in Planet Labs PBC during the fourth quarter worth about $28,000. Simplicity Solutions LLC bought a new position in Planet Labs PBC during the fourth quarter worth about $28,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Planet Labs PBC during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 3.6 %

Shares of NYSE PL opened at $1.76 on Friday. Planet Labs PBC has a 1 year low of $1.68 and a 1 year high of $5.00. The firm’s 50-day moving average is $2.15 and its 200-day moving average is $2.26. The firm has a market capitalization of $510.04 million, a PE ratio of -3.44 and a beta of 0.79.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $58.85 million for the quarter, compared to analyst estimates of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. As a group, equities research analysts anticipate that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

About Planet Labs PBC

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 planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.