Planet Labs PBC (NYSE:PL – Get Rating)’s share price gapped down prior to trading on Wednesday after Craig Hallum lowered their price target on the stock from $15.00 to $10.00. The stock had previously closed at $5.15, but opened at $4.75. Planet Labs PBC shares last traded at $4.23, with a volume of 116,992 shares changing hands.
Several other brokerages also recently issued reports on PL. Benchmark cut their price target on Planet Labs PBC from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC lowered their price objective on Planet Labs PBC from $10.50 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $10.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Westside Investment Management Inc. bought a new position in Planet Labs PBC in the first quarter valued at about $11,200,000. Bank of America Corp DE acquired a new stake in shares of Planet Labs PBC during the fourth quarter valued at about $38,000. Tradewinds Capital Management LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter valued at about $39,000. Penserra Capital Management LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter valued at about $46,000. Finally, GoalVest Advisory LLC acquired a new stake in shares of Planet Labs PBC during the first quarter valued at about $41,000. Institutional investors own 43.33% of the company’s stock.
The company’s 50 day moving average price is $5.26.
Planet Labs PBC (NYSE:PL – Get Rating) last announced its quarterly earnings results on Thursday, March 31st. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.07). The firm had revenue of $37.15 million during the quarter, compared to analysts’ expectations of $35.95 million. As a group, equities analysts expect that Planet Labs PBC will post -0.74 EPS for the current fiscal year.
About Planet Labs PBC (NYSE:PL)
Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.