Planet Labs PBC’s (PL) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

Several other research firms also recently issued reports on PL. Needham & Company LLC restated a buy rating and set a $7.00 target price on shares of Planet Labs PBC in a research report on Friday, June 21st. Craig Hallum lowered their price objective on Planet Labs PBC from $3.00 to $2.00 and set a hold rating on the stock in a research report on Friday, June 7th. Finally, JMP Securities reiterated a market outperform rating and issued a $4.00 price objective on shares of Planet Labs PBC in a research report on Thursday, June 27th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $4.39.

Planet Labs PBC Trading Up 16.1 %

Planet Labs PBC stock opened at $2.52 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $3.39. The business’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.08. The company has a market cap of $732.75 million, a price-to-earnings ratio of -5.24 and a beta of 0.99.

Planet Labs PBC (NYSE:PL) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Planet Labs PBC had a negative net margin of 59.26% and a negative return on equity of 25.89%. The firm had revenue of $60.44 million during the quarter, compared to analysts’ expectations of $59.80 million. During the same quarter in the previous year, the company posted ($0.13) EPS. As a group, equities research analysts forecast that Planet Labs PBC will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in Planet Labs PBC in the second quarter valued at $38,000. The Manufacturers Life Insurance Company increased its stake in Planet Labs PBC by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after acquiring an additional 5,395 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Planet Labs PBC by 343.7% during the second quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after buying an additional 133,307 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Planet Labs PBC during the second quarter valued at about $201,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Planet Labs PBC by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after buying an additional 6,910 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

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.