Planet Labs PBC (NYSE:PL) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have been assigned a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.27.

A number of equities analysts have recently issued reports on the stock. Northland Securities increased their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup upped their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Needham & Company LLC upped their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Finally, Craig Hallum upgraded shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Thursday, January 30th.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PL. Dimensional Fund Advisors LP increased its stake in shares of Planet Labs PBC by 101.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock worth $8,140,000 after purchasing an additional 1,013,234 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Planet Labs PBC by 227.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,269,095 shares of the company’s stock worth $5,127,000 after purchasing an additional 880,966 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after purchasing an additional 689,888 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $2,568,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Planet Labs PBC by 119.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock worth $1,996,000 after purchasing an additional 487,958 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

PL stock opened at $4.16 on Monday. The stock has a market capitalization of $1.23 billion, a PE ratio of -10.13 and a beta of 1.45. The company’s 50-day moving average is $4.87 and its 200-day moving average is $3.61. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71.

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.