Planet Labs PBC (NYSE:PL) Price Target Raised to $7.00

Planet Labs PBC (NYSE:PL) had its target price boosted by Northland Securities from $5.00 to $7.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

PL has been the subject of a number of other research reports. Craig Hallum raised their price objective 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. Citigroup raised their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Cantor Fitzgerald started coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $5.64.

Planet Labs PBC Trading Up 4.4 %

Shares of NYSE:PL opened at $6.08 on Thursday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.36. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.82 and a beta of 1.32. The firm’s 50-day moving average is $4.24 and its 200 day moving average is $3.02.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently modified their holdings of the company. Algert Global LLC acquired a new position in Planet Labs PBC during the second quarter worth approximately $38,000. Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC during the fourth quarter worth approximately $40,000. Valeo Financial Advisors LLC acquired a new position in shares of Planet Labs PBC in the 3rd quarter valued at $45,000. Vontobel Holding Ltd. raised its position in Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after purchasing an additional 10,000 shares during the last quarter. Finally, PFG Investments LLC acquired a new stake in Planet Labs PBC during the 4th quarter worth $55,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.