Citigroup Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its price target boosted by analysts at Citigroup from $4.05 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 19.19% from the company’s previous close.

A number of other analysts have also recently weighed in on PL. Craig Hallum boosted their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. JMP Securities reissued a “market outperform” rating and set a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their price objective on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.33.

Planet Labs PBC Stock Down 3.1 %

NYSE PL opened at $4.20 on Monday. The stock has a market capitalization of $1.24 billion, a PE ratio of -10.23 and a beta of 1.34. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99. The company has a 50 day moving average price of $3.04 and a two-hundred day moving average price of $2.47.

Institutional Trading of Planet Labs PBC

Institutional investors have recently bought and sold shares of the business. Algert Global LLC bought a new stake in shares of Planet Labs PBC in the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC during the third quarter valued at approximately $45,000. Vontobel Holding Ltd. increased its stake in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after purchasing an additional 10,000 shares in the last quarter. nVerses Capital LLC acquired a new stake in Planet Labs PBC in the third quarter worth $61,000. Finally, SG Americas Securities LLC boosted its position in shares of Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after purchasing an additional 31,160 shares in the last quarter. 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.