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

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.60.

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Planet Labs PBC from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research report on Thursday, June 5th. Citigroup upped their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald boosted their target price on shares of Planet Labs PBC from $6.30 to $8.50 and gave the stock an "overweight" rating in a report on Tuesday. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 target price (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday, April 11th.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock opened at $5.56 on Wednesday. Planet Labs PBC has a 52-week low of $1.73 and a 52-week high of $6.71. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -15.46 and a beta of 1.61. The company has a fifty day moving average of $4.11 and a 200-day moving average of $4.28.

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

Institutional Trading of Planet Labs PBC

A number of large investors have recently made changes to their positions in PL. Sterling Capital Management LLC grew its position in shares of Planet Labs PBC by 790.6% during the fourth 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 stake in Planet Labs PBC in the fourth quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Planet Labs PBC in the fourth quarter valued at $42,000. Sciencast Management LP purchased a new position in shares of Planet Labs PBC in the fourth quarter valued at $43,000. Finally, Iron Gate Global Advisors LLC purchased a new position in shares of Planet Labs PBC in the first quarter valued at $36,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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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