Planet Labs PBC (NYSE:PL) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Planet Labs PBC (NYSE:PL) in a research note released on Friday,Benzinga reports. Needham & Company LLC currently has a $5.00 target price on the stock.

Several other research firms also recently commented on PL. Craig Hallum raised their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Citigroup raised their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Planet Labs PBC Stock Up 0.1 %

Shares of Planet Labs PBC stock opened at $3.82 on Friday. The stock’s fifty day moving average is $3.80 and its two-hundred day moving average is $2.78. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99. The company has a market capitalization of $1.13 billion, a PE ratio of -9.30 and a beta of 1.32.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Planet Labs PBC by 8.1% in the second 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 in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after acquiring an additional 6,910 shares during the period. Vontobel Holding Ltd. raised its position in shares of Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $40,000. Finally, Valeo Financial Advisors LLC bought a new stake in Planet Labs PBC during the third quarter valued at about $45,000. 41.71% of the stock is currently owned by institutional investors.

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.