Wedbush Keeps Their Buy Rating on Planet Labs PBC (PL)

Wedbush analyst Daniel Ives maintained a Buy rating on Planet Labs PBC today and set a price target of $40.00.

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According to TipRanks, Ives is a 5-star analyst with an average return of 11.3% and a 51.20% success rate. Ives covers the Technology sector, focusing on stocks such as Apple, Pegasystems, and International Business Machines.

In addition to Wedbush, Planet Labs PBC also received a Buy from Cantor Fitzgerald’s Colin Canfield in a report issued today. However, on the same day, TipRanks – OpenAI reiterated a Hold rating on Planet Labs PBC (NYSE: PL).

Based on Planet Labs PBC’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $81.25 million and a GAAP net loss of $59.19 million. In comparison, last year the company earned a revenue of $61.27 million and had a GAAP net loss of $20.08 million

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PL in relation to earlier this year. Last month, Gary B. Smith, a Director at PL bought 20.00 shares for a total of $313.20.