Citigroup Issues Positive Forecast for Planet Labs PBC (NYSE:PL) Stock Price

Planet Labs PBC (NYSE:PL) had its price objective hoisted by Citigroup from $4.05 to $5.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on PL. The Goldman Sachs Group decreased 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 report on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a report on Tuesday, December 10th. Finally, Craig Hallum upped their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.30.

Planet Labs PBC Stock Up 7.9 %

Planet Labs PBC stock opened at $4.33 on Monday. The company’s fifty day simple moving average is $3.00 and its 200-day simple moving average is $2.45. 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 $1.28 billion, a P/E ratio of -10.55 and a beta of 1.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PL. Geode Capital Management LLC raised its position in shares of Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares during the last quarter. State Street Corp raised its position in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after buying an additional 230,076 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in shares of Planet Labs PBC by 28.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Planet Labs PBC by 4.1% during the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after buying an additional 71,719 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Planet Labs PBC by 13.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after buying an additional 201,084 shares during the last quarter. Institutional investors and hedge funds 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.