Planet Labs PBC (NYSE:PL) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Planet Labs PBC (NYSE:PL) in a research report report published on Friday,Benzinga reports. The brokerage currently has a $6.30 price target on the stock.

PL has been the topic of several other research reports. Needham & Company LLC raised their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Northland Securities increased their price target 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. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Thursday, January 30th. Finally, Citigroup increased their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Stock Performance

NYSE PL opened at $3.78 on Friday. The firm has a market capitalization of $1.12 billion, a PE ratio of -9.21 and a beta of 1.45. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71. The company has a 50-day simple moving average of $4.88 and a 200-day simple moving average of $3.67.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. During the same period last year, the business posted ($0.06) EPS. Equities analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the business. King Luther Capital Management Corp raised its holdings in shares of Planet Labs PBC by 13.8% in the 3rd quarter. King Luther Capital Management Corp now owns 455,000 shares of the company’s stock worth $1,015,000 after purchasing an additional 55,000 shares in the last quarter. Intech Investment Management LLC acquired a new position in Planet Labs PBC in the third quarter worth approximately $135,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Planet Labs PBC by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after buying an additional 201,084 shares in the last quarter. Penserra Capital Management LLC lifted 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 last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake 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 worth $188,000 after acquiring an additional 12,404 shares in the last quarter. 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.