Planet Labs PBC (NYSE:PL) Price Target Raised to $5.00 at Citigroup

Planet Labs PBC (NYSE:PL) had its price target raised by Citigroup from $4.05 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 21.07% from the stock’s previous close.

Several other equities research analysts have also issued reports on PL. JMP Securities reissued a “market outperform” rating and issued a $4.50 price target (up previously from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Tuesday, December 10th. The Goldman Sachs Group decreased their target price 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. Finally, Craig Hallum raised their price target 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Planet Labs PBC has a consensus rating of “Moderate Buy” and a consensus target price of $4.30.

Planet Labs PBC Stock Up 3.0 %

Shares of PL stock traded up $0.12 during mid-day trading on Monday, reaching $4.13. The stock had a trading volume of 1,596,532 shares, compared to its average volume of 2,128,268. The firm has a market cap of $1.23 billion, a PE ratio of -9.95 and a beta of 1.34. Planet Labs PBC has a one year low of $1.67 and a one year high of $4.99. The firm’s 50 day simple moving average is $2.96 and its 200 day simple moving average is $2.43.

Institutional Trading of Planet Labs PBC

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its holdings in shares of Planet Labs PBC by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock worth $4,105,000 after buying an additional 71,719 shares in the last quarter. Barclays PLC raised its stake in Planet Labs PBC by 25.0% during the third quarter. Barclays PLC now owns 326,147 shares of the company’s stock worth $728,000 after acquiring an additional 65,181 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Planet Labs PBC by 16.5% in the third 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Planet Labs PBC in the 3rd quarter valued at approximately $406,000. Finally, XTX Topco Ltd grew its holdings in shares of Planet Labs PBC by 56.8% during the 3rd quarter. XTX Topco Ltd now owns 169,205 shares of the company’s stock valued at $377,000 after purchasing an additional 61,274 shares during the last quarter. 41.71% of the stock is currently owned by 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.