Planet Labs PBC (NYSE:PL) Trading Up 6.3%

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) were up 6.3% during trading on Tuesday . The company traded as high as $2.01 and last traded at $2.01. Approximately 499,928 shares traded hands during trading, a decline of 61% from the average daily volume of 1,287,947 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

PL has been the subject of a number of recent research reports. JMP Securities lowered their price target on shares of 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. Needham & Company LLC restated a "buy" rating and issued a $7.00 price target on shares of Planet Labs PBC in a research note on Monday, April 1st. Benchmark lowered their price objective 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. Citigroup cut their target price on Planet Labs PBC from $4.50 to $3.90 and set a "buy" rating on the stock in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group reduced their price target on Planet Labs PBC from $4.80 to $4.20 and set a "buy" rating for the company in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4.68.

Planet Labs PBC Price Performance

The firm has a 50-day moving average of $2.09 and a 200 day moving average of $2.23. The company has a market capitalization of $581.24 million, a PE ratio of -3.92 and a beta of 0.93.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) earnings per share for the quarter, beating 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 net margin of 63.67% and a negative return on equity of 26.14%. Equities analysts expect that Planet Labs PBC will post -0.41 EPS for the current year.

Hedge Funds Weigh In On Planet Labs PBC

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Planet Labs PBC during the first quarter valued at about $164,000. Perigon Wealth Management LLC grew its stake in shares of Planet Labs PBC by 15.5% during the 1st quarter. Perigon Wealth Management LLC now owns 112,000 shares of the company's stock valued at $286,000 after acquiring an additional 15,000 shares during the period. Conestoga Capital Advisors LLC increased its holdings in Planet Labs PBC by 15.3% in the 1st quarter. Conestoga Capital Advisors LLC now owns 399,600 shares of the company's stock worth $1,019,000 after acquiring an additional 53,100 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Planet Labs PBC by 9.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company's stock worth $334,000 after acquiring an additional 11,365 shares during the period. Finally, Aristides Capital LLC purchased a new position in Planet Labs PBC during the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

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.