Planet Labs PBC (NYSE:PL) Given Average Rating of “Moderate Buy” by Analysts

Planet Labs PBC (NYSE:PL) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.93.

Several brokerages have issued reports on PL. Needham & Company LLC cut their price objective on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Friday, September 6th. The Goldman Sachs Group lowered their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Planet Labs PBC in a research report on Friday.

Planet Labs PBC Stock Performance

Planet Labs PBC stock opened at $2.06 on Monday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $2.89. The stock has a market capitalization of $598.99 million, a P/E ratio of -4.29 and a beta of 1.00. The stock has a 50-day simple moving average of $2.31 and a 200 day simple moving average of $2.10.

Institutional Trading of Planet Labs PBC

Several institutional investors have recently modified their holdings of PL. Victory Capital Management Inc. lifted its holdings in Planet Labs PBC by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock valued at $55,000 after buying an additional 5,284 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Planet Labs PBC in the fourth quarter valued at $144,000. Dynamic Technology Lab Private Ltd acquired a new position in Planet Labs PBC in the fourth quarter valued at $34,000. Teramo Advisors LLC lifted its holdings in Planet Labs PBC by 3.8% in the fourth quarter. Teramo Advisors LLC now owns 1,100,000 shares of the company’s stock valued at $2,717,000 after buying an additional 40,000 shares during the period. Finally, Aristides Capital LLC acquired a new position in Planet Labs PBC in the fourth quarter valued at $226,000. Institutional investors own 41.71% of the company’s stock.

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.