Planet Labs PBC’s (PL) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Planet Labs PBC (NYSE:PL)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $6.30 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 66.89% from the company’s current price.

Several other research firms have also recently commented on PL. Deutsche Bank Aktiengesellschaft increased their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Northland Securities raised their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. JMP Securities raised their target price on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Citigroup raised their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Benchmark raised their target price on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Trading Down 11.0 %

NYSE PL opened at $3.78 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The stock has a market cap of $1.12 billion, a P/E ratio of -9.21 and a beta of 1.45. The stock’s fifty day moving average price is $4.88 and its 200-day moving average price is $3.66.

Planet Labs PBC (NYSE:PL) last released its earnings results 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 return on equity of 24.16% and a negative net margin of 48.88%. The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $61.89 million. During the same period in the prior year, the company posted ($0.06) earnings per share. As a group, analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PL. Sterling Capital Management LLC raised its stake in 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 purchasing an additional 6,072 shares during the period. Monterey Private Wealth Inc. bought a new stake in Planet Labs PBC during the 4th quarter valued at approximately $40,000. Wedbush Securities Inc. bought a new stake in Planet Labs PBC during the 4th quarter valued at approximately $41,000. SBI Securities Co. Ltd. bought a new stake in Planet Labs PBC during the 4th quarter valued at approximately $42,000. Finally, Sciencast Management LP bought a new stake in Planet Labs PBC during the 4th quarter valued at approximately $43,000. 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.