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

Shares of Planet Labs PBC (NYSE:PL) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $4.68.

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

Planet Labs PBC Stock Down 3.6 %

Shares of NYSE PL opened at $1.76 on Friday. The business’s 50 day moving average price is $2.15 and its two-hundred day moving average price is $2.26. The company has a market cap of $510.04 million, a PE ratio of -3.44 and a beta of 0.79. Planet Labs PBC has a twelve month low of $1.68 and a twelve month high of $5.00.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 28th. The company reported ($0.11) EPS 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 the consensus estimate of $57.64 million. As a group, research analysts anticipate that Planet Labs PBC will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors have recently modified their holdings of the company. Xponance Inc. bought a new position in Planet Labs PBC during the 4th quarter worth approximately $25,000. Navalign LLC bought a new position in Planet Labs PBC during the 4th quarter worth approximately $28,000. Bleakley Financial Group LLC bought a new position in Planet Labs PBC during the 4th quarter worth approximately $28,000. Simplicity Solutions LLC bought a new stake in shares of Planet Labs PBC in the 4th quarter worth approximately $28,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Planet Labs PBC in the 4th quarter worth approximately $34,000. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Company Profile

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.