Planet Labs PBC (NYSE:PL) Raised to Buy at Craig Hallum

Craig Hallum upgraded shares of Planet Labs PBC (NYSE:PLFree Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have $7.00 price target on the stock.

PL has been the topic of a number of other reports. Northland Securities increased their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC raised their price target on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted 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. Citigroup upped their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, JMP Securities reiterated a “market outperform” rating and set a $4.50 price target (up previously from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $5.64.

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Planet Labs PBC Price Performance

PL opened at $6.08 on Thursday. The stock has a market capitalization of $1.80 billion, a P/E ratio of -14.82 and a beta of 1.32. The company’s 50 day simple moving average is $4.24 and its 200-day simple moving average is $3.02. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.36.

Hedge Funds Weigh In On Planet Labs PBC

Several institutional investors and hedge funds have recently made changes to their positions in PL. Geode Capital Management LLC lifted its holdings in 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 worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of Planet Labs PBC by 28.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after purchasing an additional 400,000 shares during the period. Van ECK Associates Corp raised its holdings in Planet Labs PBC by 244.3% during the 4th quarter. Van ECK Associates Corp now owns 520,364 shares of the company’s stock worth $2,102,000 after buying an additional 369,206 shares during the period. Finally, State Street Corp lifted its stake in Planet Labs PBC by 5.7% in 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 in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

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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.

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Analyst Recommendations for Planet Labs PBC (NYSE:PL)

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