Planet Labs PBC (NYSE:PL) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Planet Labs PBC (NYSE:PL) in a report released on Friday,Benzinga reports. Cantor Fitzgerald currently has a $6.30 price target on the stock.

PL has been the topic of several other research reports. The Goldman Sachs Group raised their target price on Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research report on Monday, February 3rd. JMP Securities lifted their price objective on Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Benchmark lifted their price objective on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC lifted their price objective on Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $6.27.

Planet Labs PBC Trading Down 11.0 %

Shares of PL opened at $3.78 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The stock’s 50 day moving average is $4.88 and its two-hundred day moving average is $3.65. The firm has a market cap of $1.12 billion, a P/E ratio of -9.21 and a beta of 1.45.

Planet Labs PBC (NYSE:PL) last released its earnings results on Thursday, March 20th. The company reported ($0.08) earnings per share 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 net margin of 48.88% and a negative return on equity of 24.16%. During the same quarter last year, the business earned ($0.06) EPS. Equities research analysts forecast that Planet Labs PBC will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its position in Planet Labs PBC by 790.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after purchasing an additional 6,072 shares during the period. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at $40,000. Wedbush Securities Inc. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at $42,000. Finally, Sciencast Management LP acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at $43,000. 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.