Planet Labs PBC (NYSE:PL) Price Target Raised to $7.00 at Northland Securities

Planet Labs PBC (NYSE:PL) had its price objective raised by equities researchers at Northland Securities from $5.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 15.23% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Citigroup upped their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Cantor Fitzgerald started coverage on Planet Labs PBC in a research report on Friday, January 24th. They set an “overweight” rating and a $6.30 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Finally, Craig Hallum lifted their target price 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. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $5.64.

Planet Labs PBC Trading Up 4.4 %

Shares of NYSE:PL opened at $6.08 on Thursday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.36. The company’s 50 day moving average is $4.19 and its 200 day moving average is $2.99. The company has a market cap of $1.80 billion, a PE ratio of -14.82 and a beta of 1.32.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently bought and sold shares of the company. Algert Global LLC purchased a new stake in shares of Planet Labs PBC during the second quarter worth approximately $38,000. Monterey Private Wealth Inc. acquired a new stake in Planet Labs PBC during the 4th quarter worth $40,000. Valeo Financial Advisors LLC purchased a new stake in shares of Planet Labs PBC during the third quarter worth $45,000. Vontobel Holding Ltd. raised its position in shares of 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 during the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $55,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.