Planet Labs PBC (NYSE:PL) Receives $6.86 Consensus Target Price from Analysts

Planet Labs PBC (NYSE:PL) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $6.86.

Several research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $8.50 price objective (up previously from $6.30) on shares of Planet Labs PBC in a research note on Tuesday, June 24th. Wedbush raised their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. JMP Securities lifted their price target on shares of Planet Labs PBC from $6.50 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Citigroup raised their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, June 6th.

Institutional Trading of Planet Labs PBC

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in Planet Labs PBC by 2,119.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,103 shares of the company’s stock worth $653,000 after purchasing an additional 102,277 shares during the last quarter. Oxford Asset Management LLP purchased a new position in shares of Planet Labs PBC in the second quarter worth $70,000. HRT Financial LP acquired a new stake in shares of Planet Labs PBC during the second quarter worth $3,305,000. BNP Paribas Financial Markets grew its holdings in shares of Planet Labs PBC by 45.1% during the second quarter. BNP Paribas Financial Markets now owns 23,150 shares of the company’s stock valued at $141,000 after buying an additional 7,198 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of Planet Labs PBC during the second quarter valued at $1,323,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $6.79 on Thursday. Planet Labs PBC has a one year low of $1.76 and a one year high of $7.72. The business’s fifty day moving average is $6.21 and its 200 day moving average is $4.88. The stock has a market capitalization of $2.06 billion, a PE ratio of -18.86 and a beta of 1.80.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $66.27 million during the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. As a group, sell-side analysts expect that Planet Labs PBC will post -0.37 EPS for the current fiscal 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.