Planet Labs PBC's (PL) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Planet Labs PBC (NYSE:PL - Free Report) in a research note issued to investors on Monday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

PL has been the subject of several other research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $6.30 price objective on shares of Planet Labs PBC in a research note on Friday, March 21st. The Goldman Sachs Group lifted their price target on Planet Labs PBC from $5.00 to $6.40 and gave the company a "buy" rating in a research report on Monday, February 3rd. Northland Securities boosted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Finally, Benchmark lifted their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, Planet Labs PBC presently has an average rating of "Buy" and a consensus price target of $6.27.

Planet Labs PBC Stock Performance

NYSE:PL traded down $0.27 during trading on Monday, reaching $3.45. The company's stock had a trading volume of 3,110,071 shares, compared to its average volume of 3,358,131. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The firm has a 50 day moving average of $4.89 and a 200-day moving average of $3.70. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -8.42 and a beta of 1.45.

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Planet Labs PBC (NYSE:PL - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to analysts' expectations 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 prior year, the firm posted ($0.06) earnings per share. Equities research analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in Planet Labs PBC by 790.6% in 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 during the last quarter. Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC in the fourth quarter worth $40,000. Wedbush Securities Inc. purchased a new position in shares of Planet Labs PBC in the fourth quarter worth $41,000. SBI Securities Co. Ltd. bought a new stake in Planet Labs PBC during the 4th quarter valued at $42,000. Finally, Sciencast Management LP purchased a new stake in Planet Labs PBC during the 4th quarter valued at $43,000. 41.71% of the stock is currently 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.