Planet Labs PBC (NYSE:PL) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Planet Labs PBC (NYSE:PL) in a research note issued to investors on Monday morning,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

Several other research firms also recently commented on PL. Citigroup upped their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $6.30 target price on shares of Planet Labs PBC in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Benchmark boosted their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, 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 note on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.27.

Planet Labs PBC Price Performance

PL opened at $3.99 on Monday. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -9.72 and a beta of 1.45. The firm’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $3.68. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71.

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

Institutional Trading of Planet Labs PBC

Large investors have recently modified their holdings of the business. Xponance Inc. raised its position in shares of Planet Labs PBC by 12.0% during the 4th quarter. Xponance Inc. now owns 14,959 shares of the company’s stock valued at $60,000 after buying an additional 1,608 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Planet Labs PBC by 19.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company’s stock valued at $91,000 after acquiring an additional 3,753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Planet Labs PBC by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company’s stock valued at $496,000 after purchasing an additional 5,785 shares in the last quarter. Sterling Capital Management LLC lifted its stake in 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 purchasing an additional 6,072 shares during the last quarter. Finally, Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC in the 4th quarter worth about $40,000. Institutional investors own 41.71% of the company’s stock.

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.