Planet Labs PBC (NYSE:PL) Shares Up 6.3%

Planet Labs PBC (NYSE:PL)’s share price rose 6.3% during trading on Tuesday . The stock traded as high as $2.01 and last traded at $2.01. Approximately 499,928 shares traded hands during trading, a decline of 61% from the average daily volume of 1,287,947 shares. The stock had previously closed at $1.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on PL. Citigroup decreased their price target on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a report on Thursday, April 4th. Benchmark dropped their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. The Goldman Sachs Group decreased their price objective on shares of 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. JMP Securities dropped their target price on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating on the stock in a research report on Monday, April 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $7.00 price target on shares of Planet Labs PBC in a report on Monday, April 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Moderate Buy” and an average target price of $4.68.

Planet Labs PBC Stock Up 6.3 %

The company has a 50-day moving average of $2.10 and a 200 day moving average of $2.23. The stock has a market capitalization of $584.15 million, a PE ratio of -3.94 and a beta of 0.93.

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

Institutional Trading of Planet Labs PBC

Several institutional investors have recently made changes to their positions in the company. Xponance Inc. purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at approximately $25,000. Navalign LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $28,000. Bleakley Financial Group LLC purchased a new position in shares of Planet Labs PBC during the fourth quarter worth $28,000. Simplicity Solutions LLC acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at $28,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at $34,000. 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.