Planet Labs PBC's (PL) "Neutral" Rating Reaffirmed at The Goldman Sachs Group

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at The Goldman Sachs Group in a report released on Friday, MarketBeat Ratings reports. They presently have a $3.50 target price on the stock, down from their previous target price of $6.00. The Goldman Sachs Group's target price suggests a potential upside of 9.72% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Benchmark boosted their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $6.30 price target on shares of Planet Labs PBC in a research report on Friday, March 21st. JMP Securities lifted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Northland Securities increased their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $5.98.

Planet Labs PBC Trading Down 2.7 %

PL traded down $0.09 on Friday, hitting $3.19. The company had a trading volume of 1,320,796 shares, compared to its average volume of 3,482,579. The company's fifty day moving average price is $4.29 and its 200 day moving average price is $3.82. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The firm has a market cap of $964.18 million, a P/E ratio of -7.78 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $61.89 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. On average, analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Xponance Inc. raised its stake in Planet Labs PBC by 12.0% during the 4th quarter. Xponance Inc. now owns 14,959 shares of the company's stock worth $60,000 after acquiring an additional 1,608 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Planet Labs PBC by 19.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 22,577 shares of the company's stock worth $91,000 after purchasing an additional 3,753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Planet Labs PBC by 4.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 122,655 shares of the company's stock worth $496,000 after purchasing an additional 5,785 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Planet Labs PBC by 790.6% in the 4th 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. Finally, Rhumbline Advisers boosted its position in shares of Planet Labs PBC by 2.3% in the 1st quarter. Rhumbline Advisers now owns 293,950 shares of the company's stock valued at $994,000 after purchasing an additional 6,692 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

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.