Planet Labs PBC (NYSE:PL) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.93.

A number of equities analysts have weighed in on the stock. Craig Hallum raised their target price on shares of Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research note on Friday, September 6th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Planet Labs PBC in a research report on Friday, August 16th. Needham & Company LLC dropped their target price on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, September 6th. JMP Securities reissued a “market outperform” rating and issued a $4.00 target price on shares of Planet Labs PBC in a research note on Thursday, September 26th. Finally, The Goldman Sachs Group lowered their price target on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Planet Labs PBC by 1.4% in the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock worth $47,270,000 after acquiring an additional 261,019 shares during the period. Teramo Advisors LLC grew its position in Planet Labs PBC by 3.0% in the 2nd quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock worth $2,107,000 after purchasing an additional 32,700 shares during the period. Bank of New York Mellon Corp raised its stake in 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 buying an additional 56,124 shares during 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 buying an additional 206,000 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Planet Labs PBC by 2.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock worth $1,495,000 after buying an additional 13,075 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of NYSE:PL opened at $2.31 on Friday. The firm has a market capitalization of $670.23 million, a P/E ratio of -4.80 and a beta of 0.98. The stock has a 50 day moving average price of $2.29 and a 200-day moving average price of $2.08. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.89.

Planet Labs PBC (NYSE:PL) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $61.57 million. Planet Labs PBC had a negative net margin of 57.71% and a negative return on equity of 26.87%. On average, equities analysts forecast that Planet Labs PBC will post -0.4 EPS for the current fiscal year.

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.