Planet Labs PBC’s (PL) “Buy” Rating Reaffirmed at Needham & Company LLC

Planet Labs PBC (NYSE:PL)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $5.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 31.06% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Citigroup boosted their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, December 17th. Craig Hallum lifted their price target on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price target (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.33.

Planet Labs PBC Trading Up 0.1 %

Shares of PL stock opened at $3.82 on Friday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $4.99. The stock has a market cap of $1.13 billion, a PE ratio of -9.30 and a beta of 1.32. The company’s fifty day moving average price is $3.82 and its 200-day moving average price is $2.80.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds have recently bought and sold shares of the business. Monterey Private Wealth Inc. bought a new stake in shares of Planet Labs PBC during the 4th quarter valued at about $40,000. JPMorgan Chase & Co. grew its stake in shares of Planet Labs PBC by 90.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 388,129 shares of the company’s stock valued at $866,000 after acquiring an additional 184,111 shares during the period. Franklin Resources Inc. grew its stake 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 valued at $4,105,000 after acquiring an additional 71,719 shares during the period. Barclays PLC grew its stake in shares of Planet Labs PBC by 25.0% during the 3rd quarter. Barclays PLC now owns 326,147 shares of the company’s stock valued at $728,000 after acquiring an additional 65,181 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after acquiring an additional 689,888 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.