Brokerages Set Planet Labs PBC (NYSE:PL) Price Target at $4.33

Planet Labs PBC (NYSE:PL) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $4.33.

A number of research analysts recently commented on PL shares. Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Tuesday, December 10th. Craig Hallum raised their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Citigroup raised their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th.

Institutional Trading of Planet Labs PBC

Several large investors have recently added to or reduced their stakes in PL. Geode Capital Management LLC boosted its holdings in shares of Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Planet Labs PBC by 119.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after purchasing an additional 487,958 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Planet Labs PBC by 28.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after purchasing an additional 400,000 shares in the last quarter. State Street Corp grew its holdings in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Planet Labs PBC by 52.2% in the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock valued at $1,117,000 after buying an additional 206,000 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Down 5.5 %

Planet Labs PBC stock opened at $4.12 on Wednesday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $4.99. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -10.05 and a beta of 1.32. The business has a 50 day moving average price of $3.60 and a two-hundred day moving average price of $2.70.

Planet Labs PBC Company Profile

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.