Planet Labs PBC (NYSE:PL) Stock Price Up 6.3%

Shares of Planet Labs PBC (NYSE:PL) traded up 6.3% on Tuesday . The company traded as high as $2.01 and last traded at $2.01. 499,928 shares changed hands during trading, a decline of 61% from the average session volume of 1,287,947 shares. The stock had previously closed at $1.89.

Analysts Set New Price Targets

Several research analysts recently issued reports on PL shares. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Planet Labs PBC in a research report on Monday, April 1st. JMP Securities cut their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a report on Monday, April 1st. Citigroup reduced their price target on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group reduced their price target on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, Benchmark reduced their target price on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Planet Labs PBC currently has an average rating of “Moderate Buy” and an average price target of $4.68.

Planet Labs PBC Stock Up 6.3 %

The firm has a market capitalization of $584.15 million, a P/E ratio of -3.94 and a beta of 0.93. The firm has a 50 day moving average of $2.10 and a 200-day moving average of $2.23.

Planet Labs PBC (NYSE:PL) last issued its quarterly earnings results on Thursday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $58.85 million for the quarter, compared to analyst estimates of $57.64 million. Planet Labs PBC had a negative return on equity of 26.14% and a negative net margin of 63.67%. As a group, research analysts expect that Planet Labs PBC will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of PL. Xponance Inc. acquired a new position in shares of Planet Labs PBC during the fourth quarter worth $25,000. Navalign LLC acquired a new position in Planet Labs PBC during the 4th quarter worth about $28,000. Bleakley Financial Group LLC bought a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $28,000. Simplicity Solutions LLC bought a new position in shares of Planet Labs PBC during the fourth quarter worth about $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Planet Labs PBC in the fourth quarter worth approximately $34,000. 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.