Planet Labs PBC (NYSE:PL) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $6.71.

PL has been the subject of several recent analyst reports. Wedbush upped their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a research note on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.50 target price (up previously from $6.30) on shares of Planet Labs PBC in a report on Tuesday, June 24th. The Goldman Sachs Group initiated coverage on shares of Planet Labs PBC in a research report on Monday, June 30th. They set a "neutral" rating and a $4.60 price objective for the company. Finally, Citigroup boosted their target price 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.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors and hedge funds have recently made changes to their positions in PL. Allspring Global Investments Holdings LLC purchased a new stake in Planet Labs PBC in the 1st quarter valued at about $115,000. Rhumbline Advisers grew its holdings in shares of Planet Labs PBC by 2.3% in the first quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock valued at $994,000 after acquiring an additional 6,692 shares in the last quarter. Deutsche Bank AG increased its position in shares of Planet Labs PBC by 48.9% during the fourth quarter. Deutsche Bank AG now owns 208,412 shares of the company's stock valued at $842,000 after acquiring an additional 68,465 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Planet Labs PBC by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock valued at $64,448,000 after acquiring an additional 397,153 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in Planet Labs PBC by 220.5% during the first quarter. Vontobel Holding Ltd. now owns 45,143 shares of the company's stock worth $153,000 after acquiring an additional 31,057 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of PL opened at $6.78 on Friday. The firm has a 50-day moving average of $5.21 and a 200-day moving average of $4.57. The company has a market cap of $2.06 billion, a PE ratio of -18.83 and a beta of 1.80. Planet Labs PBC has a one year low of $1.76 and a one year high of $7.72.

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

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.

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