Planet Labs PBC (NYSE:PL) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Planet Labs PBC (NYSE:PL) in a report released on Friday, Marketbeat reports. The firm issued an overweight rating and a $6.30 target price on the stock.

A number of other brokerages have also issued reports on PL. 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 note on Monday, December 16th. Craig Hallum upped their price objective on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. JMP Securities reiterated a “market outperform” rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and an average target price of $4.54.

Planet Labs PBC Trading Up 14.5 %

Planet Labs PBC stock opened at $5.43 on Friday. The stock has a 50 day moving average of $4.00 and a 200-day moving average of $2.89. The stock has a market cap of $1.61 billion, a P/E ratio of -13.23 and a beta of 1.32. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $5.55.

Institutional Trading of Planet Labs PBC

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Planet Labs PBC by 16.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Planet Labs PBC by 119.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock worth $1,996,000 after acquiring an additional 487,958 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted 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 valued at $4,052,000 after purchasing an additional 400,000 shares during the last quarter. State Street Corp increased its position in Planet Labs PBC by 5.7% in the 3rd 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. Finally, Aspiring Ventures LLC purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth about $849,000. 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.