Planet Labs PBC (NYSE:PL) Receives $3.93 Consensus Price Target from Analysts

Planet Labs PBC (NYSE:PL) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.93.

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

Planet Labs PBC Price Performance

NYSE:PL opened at $3.00 on Tuesday. The firm’s fifty day moving average price is $2.25 and its 200 day moving average price is $2.15. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $3.30. The firm has a market cap of $878.97 million, a price-to-earnings ratio of -6.62 and a beta of 0.97.

Planet Labs PBC (NYSE:PL) last issued its earnings results on Thursday, September 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. As a group, analysts expect that Planet Labs PBC will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Planet Labs PBC

Hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in Planet Labs PBC by 25.3% during the third quarter. FMR LLC now owns 454,339 shares of the company’s stock worth $1,013,000 after purchasing an additional 91,690 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Planet Labs PBC by 17.3% in the third quarter. The Manufacturers Life Insurance Company now owns 84,254 shares of the company’s stock valued at $188,000 after buying an additional 12,404 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Planet Labs PBC by 16.5% in the third quarter. Penserra Capital Management LLC now owns 554,332 shares of the company’s stock valued at $1,236,000 after buying an additional 78,410 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Planet Labs PBC by 13.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after buying an additional 201,084 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Planet Labs PBC in the third quarter valued at $135,000. 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.