Planet Labs PBC (NYSE:PL) Receives $35.11 Consensus Target Price from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have received an average rating of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $35.1083.

Several brokerages have recently commented on PL. Wedbush began coverage on Planet Labs PBC in a research report on Wednesday, July 1st. They set an “outperform” rating and a $50.00 price objective on the stock. Citigroup upped their target price on Planet Labs PBC from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Northland Securities set a $50.00 price target on shares of Planet Labs PBC in a research report on Friday, June 5th. New Street Research started coverage on shares of Planet Labs PBC in a research note on Wednesday, May 13th. They set a “sell” rating and a $28.00 price target on the stock. Finally, Weiss Ratings upgraded shares of Planet Labs PBC from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PL. American Capital Advisory LLC purchased a new stake in Planet Labs PBC during the 1st quarter valued at about $28,000. Western Wealth Management LLC purchased a new position in Planet Labs PBC in the 1st quarter worth approximately $28,000. Parkside Financial Bank & Trust lifted its position in Planet Labs PBC by 92.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,550 shares of the company’s stock valued at $31,000 after purchasing an additional 745 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Planet Labs PBC in the fourth quarter valued at approximately $32,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Planet Labs PBC by 40.9% during the first quarter. Pittenger & Anderson Inc. now owns 1,360 shares of the company’s stock valued at $38,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

NYSE PL opened at $28.70 on Friday. Planet Labs PBC has a 52-week low of $5.87 and a 52-week high of $51.76. The company has a fifty day moving average of $36.62 and a 200-day moving average of $30.32. The company has a market capitalization of $10.23 billion, a P/E ratio of -25.18 and a beta of 2.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.78 and a current ratio of 2.81.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings results on Thursday, June 4th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Planet Labs PBC had a negative return on equity of 105.29% and a negative net margin of 111.17%.The business had revenue of $94.15 million for the quarter, compared to the consensus estimate of $90.39 million. The business’s revenue was up 42.1% compared to the same quarter last year. As a group, equities research analysts predict that Planet Labs PBC will post -0.92 EPS for the current fiscal year.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company’s multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet’s imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.