Planet Labs PBC (NYSE:PL) Price Target Cut to $3.10 by Analysts at The Goldman Sachs Group

Planet Labs PBC (NYSE:PL) had its price objective lowered by The Goldman Sachs Group from $3.50 to $3.10 in a report published on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

PL has been the topic of a number of other reports. Craig Hallum increased their target price on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a hold rating in a report on Friday, September 6th. JMP Securities reiterated a market outperform rating and set a $4.00 price objective on shares of Planet Labs PBC in a research note on Friday, September 6th. Needham & Company LLC cut their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a buy rating on the stock in a report on Friday, September 6th. Finally, Wedbush reaffirmed an outperform rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Friday, August 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Planet Labs PBC currently has a consensus rating of Moderate Buy and an average price target of $3.93.

Planet Labs PBC Stock Down 1.0 %

Shares of NYSE PL opened at $1.90 on Tuesday. The stock has a market capitalization of $552.47 million, a P/E ratio of -3.96 and a beta of 0.99. The stock’s 50 day moving average price is $2.27 and its two-hundred day moving average price is $2.11. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PL. King Luther Capital Management Corp bought a new position in shares of Planet Labs PBC in the fourth quarter worth $963,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Planet Labs PBC during the 2nd quarter valued at about $632,000. Vanguard Group Inc. raised its position in shares of Planet Labs PBC by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock worth $47,270,000 after buying an additional 261,019 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Planet Labs PBC by 78.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,194 shares of the company’s stock worth $1,341,000 after acquiring an additional 252,406 shares during the period. Finally, PEAK6 Investments LLC boosted its holdings in shares of Planet Labs PBC by 224.2% in the first quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock valued at $765,000 after acquiring an additional 207,558 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.