Planet Labs PBC (NYSE:PL) Receives $6.27 Average PT from Analysts

Shares of Planet Labs PBC (NYSE:PL) have been assigned an average rating of “Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have covered the stock in the last year is $6.27.

PL has been the topic of a number of research reports. Northland Securities boosted their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, January 30th. Needham & Company LLC boosted their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Cantor Fitzgerald initiated coverage on shares of Planet Labs PBC in a research report on Friday, January 24th. They issued an “overweight” rating and a $6.30 price objective on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research report on Monday, February 3rd.

Institutional Trading of Planet Labs PBC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in Planet Labs PBC by 790.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after acquiring an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at $40,000. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at $42,000. Finally, Sciencast Management LP acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at $43,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Performance

Shares of PL opened at $4.32 on Monday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The firm’s 50 day moving average price is $4.88 and its two-hundred day moving average price is $3.64. The firm has a market cap of $1.28 billion, a P/E ratio of -10.52 and a beta of 1.45.

Planet Labs PBC Company Profile

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.