Planet Labs PBC (NYSE:PL) Receives $5.98 Average PT from Analysts

Planet Labs PBC (NYSE:PL) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $5.98.

PL has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price target on shares of Planet Labs PBC in a report on Monday, March 24th. JMP Securities raised their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a report on Friday, March 21st. Northland Securities boosted 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. Finally, Benchmark increased their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th.

Planet Labs PBC Trading Up 4.2 %

Shares of NYSE PL opened at $3.61 on Tuesday. The stock has a market cap of $1.09 billion, a P/E ratio of -8.79 and a beta of 1.56. The business’s fifty day simple moving average is $3.57 and its 200-day simple moving average is $3.94. Planet Labs PBC has a 12-month low of $1.73 and a 12-month high of $6.71.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results 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). Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same period in the prior year, the business earned ($0.06) EPS. On average, equities analysts forecast that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in Planet Labs PBC by 25.0% during the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock worth $728,000 after acquiring an additional 65,181 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Planet Labs PBC by 4.1% during the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock worth $4,105,000 after purchasing an additional 71,719 shares during the period. JPMorgan Chase & Co. grew its position in Planet Labs PBC by 90.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock valued at $866,000 after buying an additional 184,111 shares during the last quarter. Monterey Private Wealth Inc. purchased a new position in Planet Labs PBC in the 4th quarter valued at $40,000. Finally, Aspiring Ventures LLC acquired a new position in Planet Labs PBC in the 4th quarter valued at $849,000. 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.