Morling Financial Advisors LLC Purchases New Holdings in Planet Labs PBC (NYSE:PL)

Morling Financial Advisors LLC purchased a new stake in Planet Labs PBC (NYSE:PL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,883 shares of the company’s stock, valued at approximately $143,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. bought a new position in Planet Labs PBC during the 4th quarter worth approximately $25,000. Navalign LLC bought a new position in Planet Labs PBC during the 4th quarter worth approximately $28,000. Bleakley Financial Group LLC bought a new position in Planet Labs PBC during the 4th quarter worth approximately $28,000. Simplicity Solutions LLC bought a new position in Planet Labs PBC during the 4th quarter worth approximately $28,000. Finally, Ritholtz Wealth Management bought a new position in Planet Labs PBC during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

PL has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $7.00 target price on shares of Planet Labs PBC in a report on Monday, April 1st. JMP Securities cut their price target 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. Benchmark cut their price target on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. The Goldman Sachs Group cut their price target on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating on the stock in a report on Friday, April 12th. Finally, Citigroup cut their price target on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating on the stock in a report on Thursday, April 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.68.

Planet Labs PBC Trading Up 2.5 %

PL traded up $0.04 during trading hours on Wednesday, hitting $1.82. The company’s stock had a trading volume of 1,178,199 shares, compared to its average volume of 1,322,362. Planet Labs PBC has a fifty-two week low of $1.68 and a fifty-two week high of $5.00. The firm has a market capitalization of $527.48 million, a PE ratio of -3.56 and a beta of 0.79. The company has a 50-day simple moving average of $2.16 and a 200 day simple moving average of $2.26.

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

About Planet Labs PBC

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 planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.