Planet Labs PBC (NYSE:PL) Stock Price Up 4.9%

Planet Labs PBC (NYSE:PL)’s share price shot up 4.9% on Friday . The company traded as high as $1.94 and last traded at $1.94. 632,989 shares were traded during mid-day trading, a decline of 51% from the average session volume of 1,282,839 shares. The stock had previously closed at $1.85.

Analyst Ratings Changes

A number of analysts recently commented on PL shares. Benchmark decreased their price objective on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. JMP Securities decreased their target price on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a research report on Monday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 target price on shares of Planet Labs PBC in a research note on Friday. Craig Hallum lowered their price objective on Planet Labs PBC from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Friday, June 7th. Finally, Citigroup reduced their target price on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC has an average rating of “Moderate Buy” and an average price target of $4.30.

Planet Labs PBC Stock Performance

The firm has a market capitalization of $575.72 million, a price-to-earnings ratio of -4.12 and a beta of 0.97. The business has a fifty day moving average price of $1.88 and a 200 day moving average price of $2.15.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $60.44 million for the quarter, compared to analyst estimates of $59.80 million. Planet Labs PBC had a negative return on equity of 25.89% and a negative net margin of 59.26%. During the same quarter in the prior year, the company earned ($0.13) earnings per share. On average, analysts expect that Planet Labs PBC will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds have recently made changes to their positions in the business. Xponance Inc. purchased a new stake in Planet Labs PBC during the 4th quarter worth $25,000. Navalign LLC purchased a new stake in shares of Planet Labs PBC in the fourth quarter worth about $28,000. Bleakley Financial Group LLC acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $28,000. Simplicity Solutions LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at about $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Planet Labs PBC during the 4th quarter worth approximately $34,000. 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.