Brokerages Set Planet Labs PBC (NYSE:PL) Target Price at $4.33

Shares of Planet Labs PBC (NYSE:PL) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.33.

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Tuesday, December 10th. Citigroup increased their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. 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. Finally, The Goldman Sachs Group dropped their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PL. Algert Global LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at approximately $38,000. Valeo Financial Advisors LLC bought a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $45,000. Vontobel Holding Ltd. grew its stake 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 worth $50,000 after acquiring an additional 10,000 shares during the last quarter. nVerses Capital LLC bought a new position in Planet Labs PBC during the third quarter worth $61,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in 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 valued at $121,000 after purchasing an additional 6,910 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Price Performance

NYSE:PL opened at $4.12 on Wednesday. The stock has a market cap of $1.22 billion, a PE ratio of -10.05 and a beta of 1.32. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $4.99. The stock’s 50-day moving average is $3.60 and its two-hundred day moving average is $2.70.

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.