Brokerages Set Planet Labs PBC (NYSE:PL) Price Target at $6.27

Planet Labs PBC (NYSE:PL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.98.

Several equities analysts have recently weighed in on PL shares. Needham & Company LLC reaffirmed a "buy" rating and set a $8.00 price target on shares of Planet Labs PBC in a research note on Monday, March 24th. Craig Hallum upgraded shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 target price on the stock in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $3.50 target price (down from $6.00) on shares of Planet Labs PBC in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Finally, Benchmark boosted their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PL. JPMorgan Chase & Co. boosted its holdings in Planet Labs PBC by 90.2% during the third quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company's stock worth $866,000 after purchasing an additional 184,111 shares during the last quarter. Aspiring Ventures LLC bought a new position in shares of Planet Labs PBC during the 4th quarter valued at approximately $849,000. Barclays PLC raised its holdings in shares of Planet Labs PBC by 25.0% in the 3rd quarter. Barclays PLC now owns 326,147 shares of the company's stock worth $728,000 after purchasing an additional 65,181 shares during the period. State Street Corp lifted its stake in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock valued at $9,528,000 after purchasing an additional 230,076 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock valued at $10,864,000 after buying an additional 689,888 shares during the last quarter. Institutional investors own 41.71% of the company's stock.

Planet Labs PBC Trading Down 1.7 %

PL stock traded down $0.06 during trading on Friday, hitting $3.23. The company had a trading volume of 227,373 shares, compared to its average volume of 5,468,995. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.71. The company has a fifty day moving average price of $4.29 and a two-hundred day moving average price of $3.82. The company has a market cap of $974.76 million, a P/E ratio of -7.87 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share 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 quarter in the previous year, the business posted ($0.06) EPS. On average, analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

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.