Planet Labs PBC (NYSE:PL) Given Average Rating of “Buy” by Analysts

Shares of Planet Labs PBC (NYSE:PL) have been given an average rating of “Buy” by the ten analysts that are covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.27.

A number of analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Northland Securities boosted 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, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, January 30th. Citigroup boosted their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, JMP Securities boosted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC lifted 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 buying an additional 6,072 shares during the period. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $40,000. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $42,000. Finally, Sciencast Management LP acquired a new position in shares of Planet Labs PBC during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $3.78 on Monday. The company’s 50 day simple moving average is $4.88 and its 200 day simple moving average is $3.65. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.21 and a beta of 1.45. 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 earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share 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 the consensus estimate 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 period in the previous year, the firm posted ($0.06) EPS. As a group, analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

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.