Planet Labs PBC (NYSE:PL) Receives Average Rating of "Moderate Buy" from Brokerages

Planet Labs PBC (NYSE:PL - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $3.93.

Several research firms have commented on PL. The Goldman Sachs Group lowered their price target 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 restated an "outperform" rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. Craig Hallum lifted their price target on Planet Labs PBC from $2.00 to $2.50 and gave the company a "hold" rating in a report on Friday, September 6th. Needham & Company LLC reduced their price objective on Planet Labs PBC from $7.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $4.00 price objective on shares of Planet Labs PBC in a research note on Thursday, September 26th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Planet Labs PBC by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company's stock valued at $47,270,000 after acquiring an additional 261,019 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Planet Labs PBC during the 1st quarter valued at about $164,000. PEAK6 Investments LLC increased its holdings in shares of Planet Labs PBC by 224.2% during the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company's stock valued at $765,000 after acquiring an additional 207,558 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Planet Labs PBC during the 2nd quarter valued at approximately $632,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Planet Labs PBC by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company's stock valued at $134,000 after purchasing an additional 5,395 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

Shares of PL traded down $0.03 during mid-day trading on Tuesday, hitting $2.58. 886,509 shares of the company's stock were exchanged, compared to its average volume of 1,722,480. The company has a market cap of $757.18 million, a price-to-earnings ratio of -5.55 and a beta of 0.97. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $2.89. The stock's 50-day moving average is $2.23 and its 200-day moving average is $2.14.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $61.57 million. As a group, equities research analysts anticipate that Planet Labs PBC will post -0.41 EPS 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.