Planet Labs PBC's (PL) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

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

Several other equities research analysts have also commented on PL. Benchmark raised their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Citigroup raised their price target 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. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a report on Thursday, January 30th. The Goldman Sachs Group increased their target price on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $6.27.

Planet Labs PBC Stock Performance

NYSE PL traded down $0.02 on Friday, reaching $3.98. 4,785,392 shares of the company's stock traded hands, compared to its average volume of 3,289,116. The stock has a 50 day moving average price of $4.90 and a 200-day moving average price of $3.69. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -9.71 and a beta of 1.45. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.71.

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Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $61.55 million during the quarter, compared to analyst estimates of $61.89 million. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. During the same period last year, the firm earned ($0.06) EPS. As a group, equities research analysts anticipate that Planet Labs PBC will post -0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in PL. King Luther Capital Management Corp lifted its stake in shares of Planet Labs PBC by 13.8% in the third quarter. King Luther Capital Management Corp now owns 455,000 shares of the company's stock worth $1,015,000 after buying an additional 55,000 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Planet Labs PBC in the 3rd quarter valued at about $135,000. Charles Schwab Investment Management Inc. lifted its stake in Planet Labs PBC by 13.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company's stock worth $3,864,000 after purchasing an additional 201,084 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Planet Labs PBC by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 554,332 shares of the company's stock worth $1,236,000 after purchasing an additional 78,410 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 purchasing an additional 12,404 shares during 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.