Analysts Set Planet Labs PBC (NYSE:PL) Price Target at $3.93

Planet Labs PBC (NYSE:PL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $3.93.

Several research analysts recently commented on the company. Craig Hallum boosted their target price on Planet Labs PBC from $2.00 to $2.50 and gave the stock a "hold" rating in a research note on Friday, September 6th. Needham & Company LLC lowered their target price on Planet Labs PBC from $7.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, September 6th. Wedbush reissued an "outperform" rating and set a $5.00 target price on shares of Planet Labs PBC in a research note on Friday, August 16th. The Goldman Sachs Group lowered their target price on Planet Labs PBC from $3.50 to $3.10 and set a "buy" rating for the company in a research note on Tuesday, September 10th. Finally, JMP Securities reissued a "market outperform" rating and set a $4.00 target price on shares of Planet Labs PBC in a research note on Thursday, September 26th.

Planet Labs PBC Price Performance

Shares of PL stock traded up $0.02 on Friday, hitting $2.32. The stock had a trading volume of 1,311,876 shares, compared to its average volume of 1,732,333. The firm has a market capitalization of $673.14 million, a P/E ratio of -4.82 and a beta of 0.98. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $2.89. The company's 50 day moving average price is $2.29 and its 200-day moving average price is $2.09.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. The firm had revenue of $61.09 million during the quarter, compared to analysts' expectations of $61.57 million. On average, equities analysts forecast that Planet Labs PBC will post -0.4 EPS for the current year.

Institutional Trading of Planet Labs PBC

Institutional investors and hedge funds have recently made changes to their positions in the company. Perkins Coie Trust Co purchased a new stake in shares of Planet Labs PBC in the 2nd quarter valued at about $28,000. Valeo Financial Advisors LLC purchased a new stake in shares of Planet Labs PBC in the 3rd quarter valued at about $45,000. Algert Global LLC purchased a new stake in shares of Planet Labs PBC in the 2nd quarter valued at about $38,000. Virtu Financial LLC purchased a new stake in shares of Planet Labs PBC in the 1st quarter valued at about $52,000. Finally, Vontobel Holding Ltd. lifted its holdings 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 valued at $50,000 after purchasing an additional 10,000 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.