Planet Labs PBC’s (PL) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Planet Labs PBC (NYSE:PL) in a research report report published on Friday,Benzinga reports. The firm currently has a $6.30 target price on the stock.

PL has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upped their target price on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a report on Monday, February 3rd. Northland Securities boosted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report 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 target for the company in a research report on Thursday, January 30th. Finally, JMP Securities lifted their price target on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average 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 firm has a market cap of $1.12 billion, a price-to-earnings ratio of -9.21 and a beta of 1.45. The company’s 50-day moving average is $4.88 and its two-hundred day moving average is $3.67.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted ($0.06) EPS. On average, equities research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in Planet Labs PBC in the 4th quarter worth $64,000. WS Management Lllp acquired a new position in shares of Planet Labs PBC in the fourth quarter worth about $1,010,000. Squarepoint Ops LLC acquired a new position in shares of Planet Labs PBC in the fourth quarter worth about $321,000. Sherbrooke Park Advisers LLC purchased a new position in Planet Labs PBC in the fourth quarter valued at about $106,000. Finally, ProShare Advisors LLC grew its stake in Planet Labs PBC by 50.6% during the 4th quarter. ProShare Advisors LLC now owns 60,777 shares of the company’s stock valued at $246,000 after purchasing an additional 20,426 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.