Planet Labs PBC (NYSE:PL) Earns “Overweight” Rating from Cantor Fitzgerald

Planet Labs PBC (NYSE:PL)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They presently have a $6.30 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 66.89% from the company’s current price.

A number of other equities analysts have also commented on PL. Citigroup increased their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Northland Securities increased their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, January 30th. Finally, JMP Securities upped their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research note on Thursday, January 30th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Planet Labs PBC currently has a consensus rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Stock Down 11.0 %

NYSE PL opened at $3.78 on Friday. The company’s 50 day moving average is $4.88 and its 200-day moving average is $3.66. The firm has a market cap of $1.12 billion, a P/E ratio of -9.21 and a beta of 1.45. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.71.

Planet Labs PBC (NYSE:PL) last posted its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $61.55 million for the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period last year, the company posted ($0.06) EPS. Equities analysts expect that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors have recently added to or reduced their stakes in PL. Vanguard Group Inc. grew its holdings in shares of Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after acquiring an additional 397,153 shares during the period. Geode Capital Management LLC raised its holdings in Planet Labs PBC by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company’s stock worth $19,961,000 after purchasing an additional 69,245 shares in the last quarter. State Street Corp raised its holdings in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Planet Labs PBC by 14.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company’s stock worth $8,399,000 after purchasing an additional 261,958 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Planet Labs PBC by 101.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock worth $8,140,000 after purchasing an additional 1,013,234 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.