Brokerages Set Planet Labs PBC (NYSE:PL) Target Price at $6.27

Planet Labs PBC (NYSE:PL) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $6.27.

Several research analysts have recently commented on the company. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, January 30th. Benchmark raised their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Citigroup raised their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC lifted their target price on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Northland Securities lifted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock valued at $8,140,000 after acquiring an additional 1,013,234 shares during the period. JPMorgan Chase & Co. boosted its holdings in Planet Labs PBC by 227.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock valued at $5,127,000 after acquiring an additional 880,966 shares during the period. Geode Capital Management LLC boosted its holdings in Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after acquiring an additional 689,888 shares during the period. Baird Financial Group Inc. bought a new position in shares of Planet Labs PBC during the 4th quarter worth $2,568,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Planet Labs PBC by 119.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock worth $1,996,000 after buying an additional 487,958 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

Shares of NYSE:PL opened at $3.78 on Monday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -9.21 and a beta of 1.45. The stock’s 50-day simple moving average is $4.88 and its two-hundred day simple moving average is $3.67. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.71.

Planet Labs PBC (NYSE:PL) last announced its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The firm had revenue of $61.55 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted ($0.06) earnings per share. As a group, equities analysts forecast that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

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.