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

Shares of Planet Labs PBC (NYSE:PL) have been given a consensus rating of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $4.33.

Several research firms have issued reports on PL. Deutsche Bank Aktiengesellschaft upped their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. The Goldman Sachs Group decreased their price target on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Craig Hallum raised their target price on shares of Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Citigroup boosted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th.

Planet Labs PBC Stock Performance

Planet Labs PBC stock opened at $4.04 on Wednesday. The business’s fifty day moving average is $3.41 and its two-hundred day moving average is $2.62. The firm has a market cap of $1.20 billion, a P/E ratio of -9.85 and a beta of 1.34. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ArrowMark Colorado Holdings LLC increased its position in 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 worth $4,052,000 after buying an additional 400,000 shares during the last quarter. State Street Corp lifted its stake in Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Planet Labs PBC by 119.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after purchasing an additional 487,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 worth $3,864,000 after buying an additional 201,084 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Planet Labs PBC by 25.3% during the third quarter. FMR LLC now owns 454,339 shares of the company’s stock worth $1,013,000 after purchasing an additional 91,690 shares during the period. 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.