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

Planet Labs PBC (NYSE:PL) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $3.93.

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

Planet Labs PBC Stock Performance

Shares of PL stock opened at $2.61 on Tuesday. The stock’s fifty day moving average is $2.23 and its two-hundred day moving average is $2.14. The firm has a market capitalization of $765.98 million, a P/E ratio of -5.55 and a beta of 0.97. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $2.89.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $61.09 million for the quarter, compared to analyst estimates of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. On average, equities analysts forecast that Planet Labs PBC will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Perkins Coie Trust Co acquired a new position in Planet Labs PBC during the second quarter worth $28,000. Algert Global LLC acquired a new stake in Planet Labs PBC in the second quarter valued at $38,000. Valeo Financial Advisors LLC acquired a new stake in Planet Labs PBC in the third quarter valued at $45,000. Vontobel Holding Ltd. grew its holdings in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Planet Labs PBC in the first quarter valued at $52,000. 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.