Brokerages Set Planet Labs PBC (NYSE:PL) PT at $6.60

Planet Labs PBC (NYSE:PL) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.60.

A number of research firms have issued reports on PL. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $3.50 price target (down previously from $6.00) on shares of Planet Labs PBC in a research report on Friday, April 11th. Wall Street Zen raised Planet Labs PBC from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Citigroup increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Wedbush increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 price target on shares of Planet Labs PBC in a research report on Thursday, June 5th.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $6.05 on Wednesday. The business has a 50-day moving average of $4.26 and a 200 day moving average of $4.32. Planet Labs PBC has a 12 month low of $1.73 and a 12 month high of $6.71. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -16.79 and a beta of 1.61.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $66.27 million for the quarter, compared to analyst estimates of $62.25 million. Planet Labs PBC had a negative return on equity of 23.36% and a negative net margin of 42.58%. Equities research analysts anticipate that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. raised its position in shares of Planet Labs PBC by 12.0% during the 4th quarter. Xponance Inc. now owns 14,959 shares of the company’s stock worth $60,000 after acquiring an additional 1,608 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Planet Labs PBC by 32.1% during the 1st quarter. Mackenzie Financial Corp now owns 13,364 shares of the company’s stock worth $45,000 after acquiring an additional 3,245 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Planet Labs PBC by 19.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company’s stock worth $91,000 after acquiring an additional 3,753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Planet Labs PBC by 4.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company’s stock worth $496,000 after acquiring an additional 5,785 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after acquiring an additional 6,072 shares in the last quarter. Institutional investors and hedge funds 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.