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

Planet Labs PBC (NYSE:PL) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings 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 price objective among analysts that have issued a report on the stock in the last year is $4.68.

Several research firms have commented on PL. The Goldman Sachs Group dropped their price objective 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. Benchmark decreased their price objective on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $7.00 price target on shares of Planet Labs PBC in a research report on Monday, May 20th. Citigroup decreased their price objective 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 lowered their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research report on Monday, April 1st.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Planet Labs PBC in the 1st quarter valued at $52,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Planet Labs PBC by 26.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 511,976 shares of the company’s stock valued at $1,306,000 after acquiring an additional 106,083 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Planet Labs PBC by 14.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock worth $130,000 after acquiring an additional 6,215 shares during the period. PEAK6 Investments LLC raised its holdings in Planet Labs PBC by 224.2% during the first quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock worth $765,000 after purchasing an additional 207,558 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Planet Labs PBC in the first quarter valued at about $66,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

NYSE:PL opened at $1.90 on Tuesday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $5.00. The company has a market capitalization of $552.18 million, a PE ratio of -3.73 and a beta of 0.93. The firm’s 50-day moving average price is $2.03 and its 200-day moving average price is $2.21.

Planet Labs PBC (NYSE:PL) last issued 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 firm had revenue of $58.85 million for the quarter, compared to analysts’ expectations of $57.64 million. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. Equities analysts anticipate that Planet Labs PBC will post -0.41 EPS for the current fiscal year.

Planet Labs PBC Company Profile

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.