Planet Labs PBC (NYSE:PL) Now Covered by The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group began coverage on shares of Planet Labs PBC (NYSE:PL - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The firm set a "neutral" rating and a $4.60 price target on the stock. The Goldman Sachs Group's target price indicates a potential downside of 32.56% from the company's current price.

Other analysts also recently issued research reports about the company. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a report on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.50 target price (up from $6.30) on shares of Planet Labs PBC in a research report on Tuesday, June 24th. Wedbush boosted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Citigroup raised their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen raised shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.71.

Planet Labs PBC Trading Up 11.1%

NYSE:PL traded up $0.68 during trading hours on Monday, reaching $6.82. 15,391,894 shares of the company's stock were exchanged, compared to its average volume of 4,979,572. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $7.72. The business's 50-day simple moving average is $4.45 and its two-hundred day simple moving average is $4.36.

Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $66.27 million during the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. On average, research analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after acquiring an additional 6,072 shares in the last quarter. Iron Gate Global Advisors LLC acquired a new stake in Planet Labs PBC during the first quarter valued at $36,000. HighTower Advisors LLC acquired a new stake in Planet Labs PBC during the first quarter valued at $37,000. Forum Financial Management LP purchased a new position in Planet Labs PBC in the first quarter valued at about $39,000. Finally, Wellington Shields & Co. LLC purchased a new position in Planet Labs PBC in the first quarter valued at about $39,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

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.