Planet Labs PBC (NYSE:PL) Given New $6.50 Price Target at JMP Securities

Planet Labs PBC (NYSE:PL) had its price target boosted by JMP Securities from $4.50 to $6.50 in a research note published on Thursday,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Citigroup boosted their price objective 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. Deutsche Bank Aktiengesellschaft boosted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Thursday. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Northland Securities raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.64.

Planet Labs PBC Stock Up 4.4 %

Shares of NYSE:PL opened at $6.08 on Thursday. The business’s 50 day moving average is $4.24 and its 200 day moving average is $3.02. The stock has a market cap of $1.80 billion, a P/E ratio of -14.82 and a beta of 1.32. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.36.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds have recently made changes to their positions in the company. Monterey Private Wealth Inc. purchased a new position in Planet Labs PBC during the 4th quarter worth approximately $40,000. PFG Investments LLC purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at $55,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC in the third quarter worth $45,000. Algert Global LLC purchased a new position in shares of Planet Labs PBC during the second quarter worth $38,000. Finally, Vontobel Holding Ltd. lifted its position in Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after purchasing an additional 10,000 shares during the period. 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.