Brokerages Set Planet Labs PBC (NYSE:PL) PT at $6.27

Planet Labs PBC (NYSE:PL) has received an average recommendation of “Moderate Buy” from the ten brokerages 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 objective among brokers that have updated their coverage on the stock in the last year is $5.98.

PL has been the topic of several analyst reports. Citigroup lifted their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Thursday, January 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $3.50 price objective (down previously from $6.00) on shares of Planet Labs PBC in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Planet Labs PBC in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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.

Planet Labs PBC Stock Performance

Shares of PL opened at $3.17 on Friday. The stock has a 50 day moving average price of $4.41 and a 200 day moving average price of $3.82. The stock has a market capitalization of $956.62 million, a price-to-earnings ratio of -7.72 and a beta of 1.56. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

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

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its stake in Planet Labs PBC by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after purchasing an additional 201,084 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Planet Labs PBC by 17.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock valued at $188,000 after buying an additional 12,404 shares during the last quarter. FMR LLC raised its stake in Planet Labs PBC by 25.3% during the 3rd quarter. FMR LLC now owns 454,339 shares of the company’s stock worth $1,013,000 after acquiring an additional 91,690 shares in the last quarter. State Street Corp lifted its position in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after acquiring an additional 230,076 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Planet Labs PBC by 56.8% in the third quarter. XTX Topco Ltd now owns 169,205 shares of the company’s stock valued at $377,000 after acquiring an additional 61,274 shares in the last quarter. Hedge funds and other 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.