Planet Labs PBC (NYSE:PL - Get Free Report) had its target price boosted by equities research analysts at Citigroup from $5.00 to $7.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 16.57% from the company's previous close.
A number of other brokerages have also recently weighed in on PL. Wedbush upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research report on Thursday. Cantor Fitzgerald restated an "overweight" rating and issued a $6.30 target price on shares of Planet Labs PBC in a research note on Friday, March 21st. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $6.38.
Read Our Latest Stock Report on PL
Planet Labs PBC Trading Up 0.8%
Shares of NYSE PL traded up $0.05 during trading hours on Friday, reaching $6.01. The stock had a trading volume of 11,734,909 shares, compared to its average volume of 4,110,772. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -14.64 and a beta of 1.61. The business's fifty day moving average price is $3.56 and its two-hundred day moving average price is $4.14.
Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.01. The business had revenue of $66.27 million for the quarter, compared to the consensus estimate of $62.25 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. Equities research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Planet Labs PBC by 1.6% in the first quarter. Vanguard Group Inc. now owns 16,213,565 shares of the company's stock valued at $54,802,000 after acquiring an additional 261,171 shares in the last quarter. Geode Capital Management LLC raised its holdings in Planet Labs PBC by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock worth $19,961,000 after purchasing an additional 69,245 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Planet Labs PBC by 14.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company's stock worth $8,399,000 after purchasing an additional 261,958 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company's stock worth $8,140,000 after buying an additional 1,013,234 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Planet Labs PBC by 8.0% in the 4th quarter. Northern Trust Corp now owns 1,966,504 shares of the company's stock valued at $7,945,000 after buying an additional 145,123 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.
About Planet Labs PBC
(
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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