Planet Labs PBC (NYSE:PL) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Planet Labs PBC (NYSE:PLFree Report) in a research report report published on Monday, Benzinga reports. The firm currently has a $7.00 price target on the stock.

Several other equities research analysts also recently issued reports on the stock. Citigroup lowered 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 report on Thursday, April 4th. JMP Securities decreased their target price on shares of Planet Labs PBC from $5.50 to $4.00 and set a market outperform rating for the company in a research report on Monday, April 1st. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $4.80 to $4.20 and set a buy rating for the company in a research note on Friday, April 12th. Finally, Benchmark cut 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $4.68.

Read Our Latest Research Report on Planet Labs PBC

Planet Labs PBC Trading Down 0.8 %

Shares of PL stock opened at $1.91 on Monday. The firm’s 50 day moving average is $2.04 and its 200-day moving average is $2.22. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $5.00. The firm has a market capitalization of $553.63 million, a price-to-earnings ratio of -3.74 and a beta of 0.93.

Planet Labs PBC (NYSE:PLGet Free Report) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Planet Labs PBC had a negative net margin of 63.67% and a negative return on equity of 26.14%. The business had revenue of $58.85 million for the quarter, compared to analyst estimates of $57.64 million. On average, equities research analysts forecast that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds have recently bought and sold shares of PL. Virtu Financial LLC acquired a new position in shares of Planet Labs PBC in the 1st quarter valued at approximately $52,000. Jacobs Levy Equity Management Inc. increased its position in Planet Labs PBC by 26.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 511,976 shares of the company’s stock worth $1,306,000 after purchasing an additional 106,083 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Planet Labs PBC by 14.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock worth $130,000 after purchasing an additional 6,215 shares in the last quarter. PEAK6 Investments LLC increased its position in Planet Labs PBC by 224.2% during the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock worth $765,000 after purchasing an additional 207,558 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Planet Labs PBC during the 1st quarter worth approximately $66,000. 41.71% of the stock is owned by institutional investors.

About Planet Labs PBC

(Get Free Report)

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.

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Analyst Recommendations for Planet Labs PBC (NYSE:PL)

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