Planet Labs PBC (NYSE:PL - Get Free Report) was down 4.5% on Tuesday . The stock traded as low as $5.57 and last traded at $5.57. Approximately 2,865,513 shares changed hands during trading, a decline of 32% from the average daily volume of 4,194,536 shares. The stock had previously closed at $5.83.
Analyst Upgrades and Downgrades
PL has been the subject of several recent research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $6.30 target price on shares of Planet Labs PBC in a research report on Friday, March 21st. Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Thursday, June 5th. Finally, Wedbush upped their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.38.
View Our Latest Stock Report on PL
Planet Labs PBC Price Performance
The company has a market capitalization of $1.65 billion, a PE ratio of -13.29 and a beta of 1.61. The firm has a 50-day moving average of $3.75 and a 200 day moving average of $4.20.
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, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $66.27 million for the quarter, compared to analysts' expectations of $62.25 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. Equities analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.
Institutional Investors Weigh In On Planet Labs PBC
Large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in Planet Labs PBC by 790.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC in the 4th quarter worth approximately $42,000. Sciencast Management LP purchased a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $43,000. Finally, Iron Gate Global Advisors LLC acquired a new stake in shares of Planet Labs PBC during the first quarter valued at $36,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.
About Planet Labs PBC
(
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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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