Brokerages Set Planet Labs PBC (NYSE:PL) Target Price at $4.54

Shares of Planet Labs PBC (NYSE:PLGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.54.

PL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Craig Hallum upped their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, December 10th. Citigroup raised their target price 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. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, January 17th. Finally, JMP Securities restated a “market outperform” rating and set a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th.

View Our Latest Analysis on Planet Labs PBC

Planet Labs PBC Stock Performance

Planet Labs PBC stock opened at $5.46 on Friday. The stock has a 50-day simple moving average of $4.04 and a 200 day simple moving average of $2.93. The stock has a market capitalization of $1.62 billion, a P/E ratio of -13.33 and a beta of 1.32. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $5.55.

Institutional Trading of Planet Labs PBC

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Planet Labs PBC by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock worth $134,000 after purchasing an additional 5,395 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Planet Labs PBC by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after buying an additional 6,910 shares during the last quarter. Vontobel Holding Ltd. boosted 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 buying an additional 10,000 shares in the last quarter. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC in the fourth quarter valued at about $40,000. Finally, PFG Investments LLC acquired a new position in Planet Labs PBC during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

(Get Free Report

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.

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Analyst Recommendations for Planet Labs PBC (NYSE:PL)

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