Analysts Set Planet Labs PBC (NYSE:PL) Price Target at $4.68

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) have earned an average rating of "Moderate Buy" from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.68.

PL has been the subject of several recent research reports. Citigroup reduced their price target on Planet Labs PBC from $4.50 to $3.90 and set a "buy" rating for the company in a research report on Thursday, April 4th. JMP Securities cut their target price on shares of 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. Needham & Company LLC restated a "buy" rating and set a $7.00 price target on shares of Planet Labs PBC in a research report on Monday, April 1st. Benchmark cut 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. Finally, The Goldman Sachs Group lowered their target price on shares of Planet Labs PBC from $4.80 to $4.20 and set a "buy" rating on the stock in a research note on Friday, April 12th.

Planet Labs PBC Price Performance

PL stock remained flat at $1.77 during trading on Friday. 585,674 shares of the company were exchanged, compared to its average volume of 1,307,412. Planet Labs PBC has a one year low of $1.68 and a one year high of $5.00. The business has a fifty day simple moving average of $2.15 and a 200-day simple moving average of $2.26.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $58.85 million during the quarter, compared to analysts' expectations of $57.64 million. Planet Labs PBC had a negative return on equity of 26.14% and a negative net margin of 63.67%. On average, equities research analysts expect that Planet Labs PBC will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently bought and sold shares of the business. Xponance Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $25,000. Navalign LLC purchased a new position in shares of Planet Labs PBC during the fourth quarter worth about $28,000. Bleakley Financial Group LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth about $28,000. Simplicity Solutions LLC purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

About Planet Labs PBC

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.