As Google Made The Web Searchable, Planet Labs Maps Earth's Key Reference Points: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Benchmark analyst Josh Sullivan reiterated a Buy rating on Planet Labs (PL) with a price target of $5. Sullivan believes PL's unique real-time and historical global mapping data is under-appreciated. He notes that PL is indexing the Earth for searchable items, similar to how Google indexed webpages. Sullivan is optimistic about PL's FY25 targets, including adjusted EBITDA profitability and 20%+ annual revenue growth. PL shares are currently trading lower by 4.8%.
October 11, 2023 | 7:38 pm
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NEUTRAL IMPACT
Google's indexing of webpages is compared to Planet Labs' indexing of the Earth.
While Google is mentioned in the article, it is primarily in comparison to Planet Labs' operations. This is unlikely to have a significant impact on Google's stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Google's indexing of webpages is compared to Planet Labs' indexing of the Earth.
While Google is mentioned in the article, it is primarily in comparison to Planet Labs' operations. This is unlikely to have a significant impact on Google's stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Analyst reiterates Buy rating on Planet Labs, citing its unique global mapping data and potential for significant revenue growth.
The analyst's positive outlook on Planet Labs, including the reiteration of a Buy rating and a price target of $5, could potentially boost investor confidence and have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100