Planet Labs PBC (NYSE:PL) PT Raised to $2.50 at Craig Hallum

Planet Labs PBC (NYSE:PL) had its price objective upped by stock analysts at Craig Hallum from $2.00 to $2.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock.

A number of other brokerages have also issued reports on PL. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Planet Labs PBC in a research report on Friday, August 16th. JMP Securities restated a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research report on Thursday, June 27th. Finally, Needham & Company LLC decreased their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Planet Labs PBC has a consensus rating of “Moderate Buy” and a consensus price target of $4.20.

Planet Labs PBC Stock Performance

Shares of NYSE PL opened at $2.50 on Friday. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $3.32. The firm’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.11. The firm has a market cap of $726.93 million, a P/E ratio of -5.21 and a beta of 0.99.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Planet Labs PBC had a negative return on equity of 25.89% and a negative net margin of 59.26%. The firm had revenue of $60.44 million for the quarter, compared to analyst estimates of $59.80 million. During the same quarter last year, the business posted ($0.13) EPS. As a group, equities analysts predict that Planet Labs PBC will post -0.4 EPS for the current year.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after purchasing an additional 261,019 shares during the last quarter. Teramo Advisors LLC boosted its holdings in shares of Planet Labs PBC by 3.0% in the 2nd quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock valued at $2,107,000 after purchasing an additional 32,700 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Planet Labs PBC by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock valued at $1,184,000 after acquiring an additional 56,124 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Planet Labs PBC by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock valued at $1,117,000 after acquiring an additional 206,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Planet Labs PBC by 2.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock valued at $1,495,000 after acquiring an additional 13,075 shares in the last quarter. Institutional investors and hedge funds 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.