Planet Labs PBC (NYSE:PL) Shares Gap Down - What's Next?

Planet Labs PBC (NYSE:PL - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $3.46, but opened at $3.25. Planet Labs PBC shares last traded at $3.33, with a volume of 746,529 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. JMP Securities lifted their target price on Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research report on Thursday, January 30th. The Goldman Sachs Group raised their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a "buy" rating in a research note on Monday, February 3rd. Northland Securities raised their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $8.00 target price on shares of Planet Labs PBC in a report on Monday, March 24th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $6.27.

Planet Labs PBC Trading Down 5.5 %

The company has a 50-day moving average price of $4.81 and a two-hundred day moving average price of $3.74. The stock has a market capitalization of $939.08 million, a P/E ratio of -7.72 and a beta of 1.45.

Planet Labs PBC (NYSE:PL - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. The company had revenue of $61.55 million for the quarter, compared to analyst estimates of $61.89 million. During the same period last year, the business earned ($0.06) EPS. Research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sterling Capital Management LLC lifted its position in shares of Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock valued at $28,000 after purchasing an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at approximately $40,000. Wedbush Securities Inc. bought a new stake in Planet Labs PBC during the fourth quarter worth $41,000. SBI Securities Co. Ltd. bought a new position in Planet Labs PBC in the 4th quarter valued at $42,000. Finally, Sciencast Management LP purchased a new stake in Planet Labs PBC during the fourth quarter worth about $43,000. 41.71% of the stock is owned by 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.