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

Planet Labs PBC (NYSE:PL) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $3.93.

A number of research firms have recently issued reports on PL. The Goldman Sachs Group reduced their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a report on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. Craig Hallum lifted their target price on Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research note on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price on shares of Planet Labs PBC in a report on Thursday, September 26th. Finally, Needham & Company LLC decreased their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, September 6th.

Planet Labs PBC Price Performance

PL stock opened at $2.32 on Friday. The firm has a market cap of $673.14 million, a PE ratio of -4.81 and a beta of 0.98. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $2.89. The firm has a 50 day simple moving average of $2.29 and a 200 day simple moving average of $2.09.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. The company had revenue of $61.09 million during the quarter, compared to analyst estimates of $61.57 million. As a group, sell-side analysts expect that Planet Labs PBC will post -0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Perkins Coie Trust Co acquired a new position in shares of Planet Labs PBC during the second quarter valued at about $28,000. Algert Global LLC bought a new position in Planet Labs PBC during the second quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC in the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. lifted its position in shares of Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth approximately $52,000. 41.71% of the stock is owned by institutional investors.

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.