Planet Labs PBC’s (PL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research note published on Thursday morning, Benzinga reports. They currently have a $4.00 price objective on the stock.

A number of other equities analysts have also recently commented on the company. Needham & Company LLC reiterated a buy rating and issued a $7.00 target price on shares of Planet Labs PBC in a report on Friday, June 21st. The Goldman Sachs Group cut their price objective on shares of Planet Labs PBC from $4.80 to $4.20 and set a buy rating on the stock in a research report on Friday, April 12th. Benchmark dropped their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a buy rating for the company in a research note on Tuesday, April 2nd. Citigroup decreased their price objective on shares of Planet Labs PBC from $4.50 to $3.90 and set a buy rating for the company in a research note on Thursday, April 4th. Finally, Craig Hallum dropped their target price on Planet Labs PBC from $3.00 to $2.00 and set a hold rating for the company in a research report on Friday, June 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $4.30.

Planet Labs PBC Stock Performance

NYSE PL opened at $1.86 on Thursday. The stock has a 50 day moving average price of $1.90 and a 200-day moving average price of $2.12. Planet Labs PBC has a one year low of $1.67 and a one year high of $3.77. The company has a market capitalization of $540.83 million, a P/E ratio of -3.87 and a beta of 0.97.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Planet Labs PBC had a negative net margin of 59.26% and a negative return on equity of 25.89%. The business had revenue of $60.44 million for the quarter, compared to the consensus estimate of $59.80 million. During the same quarter last year, the business earned ($0.13) EPS. As a group, equities analysts predict that Planet Labs PBC will post -0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PL. Swiss National Bank boosted its position in Planet Labs PBC by 1.4% during the third quarter. Swiss National Bank now owns 420,300 shares of the company’s stock valued at $1,093,000 after purchasing an additional 5,800 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $132,000. Bleakley Financial Group LLC purchased a new stake in Planet Labs PBC during the fourth quarter valued at approximately $28,000. Jeppson Wealth Management LLC acquired a new stake in Planet Labs PBC in the fourth quarter valued at approximately $44,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Planet Labs PBC in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

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.