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

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.27.

A number of research firms recently weighed in on PL. Cantor Fitzgerald restated an “overweight” rating and issued a $6.30 target price on shares of Planet Labs PBC in a report on Friday. Citigroup upped their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Northland Securities upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC upped their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, JMP Securities upped their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PL. King Luther Capital Management Corp grew its position in shares of Planet Labs PBC by 13.8% during the 3rd quarter. King Luther Capital Management Corp now owns 455,000 shares of the company’s stock valued at $1,015,000 after acquiring an additional 55,000 shares during the period. Intech Investment Management LLC bought a new position in shares of Planet Labs PBC during the 3rd quarter valued at approximately $135,000. Charles Schwab Investment Management Inc. grew its position in shares of Planet Labs PBC by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after acquiring an additional 201,084 shares during the period. Penserra Capital Management LLC grew its position in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 554,332 shares of the company’s stock valued at $1,236,000 after acquiring an additional 78,410 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Planet Labs PBC by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock valued at $188,000 after acquiring an additional 12,404 shares during the period. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Trading Down 11.0 %

Shares of NYSE PL opened at $3.78 on Monday. The firm’s 50-day moving average price is $4.88 and its 200-day moving average price is $3.65. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The firm has a market capitalization of $1.12 billion, a P/E ratio of -9.21 and a beta of 1.45.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. During the same quarter in the prior year, the company earned ($0.06) EPS. Equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

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.