Planet Labs PBC (NYSE:PL) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.98.

Several research firms have recently issued reports on PL. Cantor Fitzgerald restated an "overweight" rating and set a $6.30 price objective on shares of Planet Labs PBC in a report on Friday, March 21st. The Goldman Sachs Group reiterated a "neutral" rating and set a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and issued a $8.00 price objective on shares of Planet Labs PBC in a report on Wednesday, May 14th. Finally, Benchmark upped their target price on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th.

Institutional Trading of Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its holdings in Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after acquiring an additional 6,072 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new position in Planet Labs PBC during the fourth quarter worth $42,000. Sciencast Management LP bought a new stake in shares of Planet Labs PBC in the 4th quarter worth $43,000. Finally, Iron Gate Global Advisors LLC bought a new stake in shares of Planet Labs PBC in the 1st quarter worth $36,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of NYSE PL traded up $0.07 during mid-day trading on Friday, reaching $3.86. 2,169,439 shares of the company traded hands, compared to its average volume of 3,763,195. Planet Labs PBC has a fifty-two week low of $1.73 and a fifty-two week high of $6.71. The firm has a market cap of $1.17 billion, a PE ratio of -9.41 and a beta of 1.56. The stock has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $4.12.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same quarter last year, the business earned ($0.06) EPS. As a group, analysts predict that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

About Planet Labs PBC

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.