Planet Labs PBC (NYSE:PL - Get Free Report) had its target price upped by investment analysts at Cantor Fitzgerald from $6.30 to $8.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 55.82% from the stock's previous close.
Several other analysts also recently weighed in on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 5th. Wedbush upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Citigroup increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Wall Street Zen upgraded Planet Labs PBC from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Planet Labs PBC currently has an average rating of "Moderate Buy" and a consensus price target of $6.60.
View Our Latest Stock Report on Planet Labs PBC
Planet Labs PBC Stock Performance
NYSE PL opened at $5.46 on Tuesday. The business's 50 day moving average price is $4.06 and its 200-day moving average price is $4.27. Planet Labs PBC has a fifty-two week low of $1.73 and a fifty-two week high of $6.71. The company has a market cap of $1.66 billion, a P/E ratio of -15.15 and a beta of 1.61.
Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 42.58% and a negative return on equity of 23.36%. The firm had revenue of $66.27 million during the quarter, compared to analysts' expectations of $62.25 million. As a group, equities analysts predict that Planet Labs PBC will post -0.37 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Planet Labs PBC by 5.0% during the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company's stock worth $1,161,000 after buying an additional 13,580 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Planet Labs PBC by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 573,055 shares of the company's stock worth $2,315,000 after acquiring an additional 23,861 shares during the last quarter. Crown Wealth Group LLC acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $78,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $42,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Planet Labs PBC by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company's stock valued at $7,151,000 after purchasing an additional 37,600 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.
Planet Labs PBC Company Profile
(
Get Free Report)
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.
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