Planet Labs PBC (NYSE:PL) Price Target Raised to $5.00

Planet Labs PBC (NYSE:PL) had its target price increased by Citigroup from $4.05 to $5.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. JMP Securities reiterated a “market outperform” rating and set a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Planet Labs PBC in a research report on Tuesday, December 10th. Craig Hallum raised their target price on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.33.

Planet Labs PBC Stock Down 7.9 %

Shares of NYSE PL opened at $3.87 on Monday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $4.99. The company has a market cap of $1.15 billion, a P/E ratio of -9.44 and a beta of 1.34. The business’s 50 day moving average is $3.08 and its two-hundred day moving average is $2.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PL. Algert Global LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC in the third quarter valued at approximately $45,000. Vontobel Holding Ltd. increased its holdings in shares of Planet Labs PBC by 81.5% in 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 in the last quarter. nVerses Capital LLC bought a new position in Planet Labs PBC in the 3rd quarter worth approximately $61,000. Finally, SG Americas Securities LLC lifted its holdings in Planet Labs PBC by 234.6% during the 2nd quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after buying an additional 31,160 shares in 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.