Planet Labs PBC (NYSE:PL) Shares Gap Down to $1.76

Shares of Planet Labs PBC (NYSE:PL) gapped down before the market opened on Friday . The stock had previously closed at $1.76, but opened at $1.68. Planet Labs PBC shares last traded at $1.75, with a volume of 307,751 shares.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PL shares. Needham & Company LLC restated a “buy” rating and set a $7.00 price target on shares of Planet Labs PBC in a research note on Monday, April 1st. Benchmark decreased their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. JMP Securities cut their price objective on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a report on Monday, April 1st. Citigroup cut their price objective on shares of Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group cut their price objective on shares of Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.68.

Planet Labs PBC Stock Down 1.1 %

The company’s fifty day simple moving average is $2.20 and its 200 day simple moving average is $2.29.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Xponance Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at $25,000. Navalign LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at $28,000. Bleakley Financial Group LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at $28,000. Simplicity Solutions LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at $28,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Planet Labs PBC during the 4th quarter valued at $34,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Company Profile

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.