Planet Labs PBC (NYSE:PL) Price Target Raised to $6.40

Planet Labs PBC (NYSE:PL) had its price objective boosted by The Goldman Sachs Group from $5.00 to $6.40 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on PL. Northland Securities increased their target price on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup increased their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Cantor Fitzgerald began coverage on Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 target price for the company. Finally, JMP Securities boosted their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Planet Labs PBC presently has an average rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Trading Down 1.2 %

PL stock opened at $6.38 on Monday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.55. The firm has a market cap of $1.89 billion, a PE ratio of -15.55 and a beta of 1.40. The business’s 50-day moving average price is $4.34 and its two-hundred day moving average price is $3.09.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Algert Global LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at about $38,000. Monterey Private Wealth Inc. bought a new stake in Planet Labs PBC in the fourth quarter valued at approximately $40,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $45,000. Vontobel Holding Ltd. boosted its stake in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.