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

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

Several equities analysts recently issued reports on PL shares. Benchmark increased their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Northland Securities upped their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. The Goldman Sachs Group restated a "neutral" rating and set a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th. Needham & Company LLC restated a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Monday, March 24th. Finally, JMP Securities upped their price target on Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a report on Thursday, January 30th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PL. Barclays PLC increased its position in Planet Labs PBC by 25.0% during the third quarter. Barclays PLC now owns 326,147 shares of the company's stock worth $728,000 after buying an additional 65,181 shares during the period. Franklin Resources Inc. grew its stake in shares of Planet Labs PBC by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company's stock valued at $4,105,000 after purchasing an additional 71,719 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Planet Labs PBC by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock valued at $866,000 after purchasing an additional 184,111 shares during the last quarter. Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC in the 4th quarter valued at approximately $40,000. Finally, Aspiring Ventures LLC purchased a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $849,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Stock Down 1.4%

Shares of Planet Labs PBC stock traded down $0.05 on Tuesday, reaching $3.56. The company's stock had a trading volume of 3,239,713 shares, compared to its average volume of 3,613,354. The company has a market capitalization of $1.08 billion, a P/E ratio of -8.68 and a beta of 1.56. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71. The stock has a 50-day moving average price of $3.56 and a 200-day moving average price of $3.97.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The business had revenue of $61.55 million during the quarter, compared to analysts' expectations of $61.89 million. During the same quarter last year, the firm earned ($0.06) earnings per share. Sell-side analysts forecast that Planet Labs PBC will post -0.37 earnings per share 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.