Planet Labs PBC (NYSE:PL) Receives Average Recommendation of “Moderate Buy” from Analysts

Planet Labs PBC (NYSE:PL) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.98.

A number of research analysts have issued reports on the company. Benchmark upped 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. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Planet Labs PBC in a research note on Wednesday, May 14th. 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 research note on Friday, April 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $3.86 on Friday. The company has a market capitalization of $1.17 billion, a PE ratio of -9.41 and a beta of 1.56. The business has a fifty day moving average price of $3.50 and a two-hundred day moving average price of $4.10. Planet Labs PBC has a 1 year low of $1.73 and a 1 year high of $6.71.

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 analysts’ consensus estimates of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.06) EPS. Sell-side analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Trading of Planet Labs PBC

A number of institutional investors have recently added to or reduced their stakes in PL. Dimensional Fund Advisors LP lifted its holdings in Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock worth $8,140,000 after purchasing an additional 1,013,234 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Planet Labs PBC by 227.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after purchasing an additional 880,966 shares in the last quarter. Liontrust Investment Partners LLP lifted its holdings in Planet Labs PBC by 175.0% during the 1st quarter. Liontrust Investment Partners LLP now owns 1,066,133 shares of the company’s stock worth $3,604,000 after purchasing an additional 678,486 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Planet Labs PBC by 54.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,856,245 shares of the company’s stock worth $6,274,000 after purchasing an additional 653,173 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Planet Labs PBC during the 4th quarter worth about $2,568,000. 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.