Planet Labs PBC (NYSE:PL) Given New $7.00 Price Target at Benchmark

Planet Labs PBC (NYSE:PL) had its price objective hoisted by Benchmark from $4.00 to $7.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Northland Securities increased 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, January 30th. Cantor Fitzgerald assumed coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They issued an “overweight” rating and a $6.30 price target for the company. The Goldman Sachs Group increased their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a report on Monday, February 3rd. Needham & Company LLC increased their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a report on Tuesday, December 17th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Trading Down 3.0 %

NYSE PL opened at $6.00 on Wednesday. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.55. The company has a fifty day simple moving average of $4.44 and a 200 day simple moving average of $3.13. The company has a market cap of $1.78 billion, a P/E ratio of -14.62 and a beta of 1.40.

Institutional Investors Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of Planet Labs PBC by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock worth $134,000 after buying an additional 5,395 shares during the period. Vontobel Holding Ltd. grew its position in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares during the period. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $40,000. SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $42,000. Finally, PFG Investments LLC acquired a new stake in shares of Planet Labs PBC during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds 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.