Craig Hallum Issues Positive Forecast for Planet Labs PBC (NYSE:PL) Stock Price

Planet Labs PBC (NYSE:PL) had its price target upped by equities researchers at Craig Hallum from $2.50 to $3.50 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Craig Hallum’s price target indicates a potential downside of 8.14% from the company’s previous close.

Several other research analysts have also recently issued reports on PL. JMP Securities reissued a “market outperform” rating and set a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a report on Monday. The Goldman Sachs Group cut their price target on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.14.

Planet Labs PBC Stock Performance

NYSE PL traded down $0.23 during trading hours on Tuesday, hitting $3.81. The company had a trading volume of 5,575,921 shares, compared to its average volume of 2,092,021. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $4.99. The company has a market cap of $1.12 billion, a PE ratio of -8.11 and a beta of 1.33. The business has a 50 day moving average of $2.82 and a 200-day moving average of $2.37.

Hedge Funds Weigh In On Planet Labs PBC

Hedge funds have recently made changes to their positions in the stock. Algert Global LLC purchased a new position in shares of Planet Labs PBC in the 2nd quarter valued at $38,000. Valeo Financial Advisors LLC purchased a new stake in Planet Labs PBC during the 3rd quarter worth $45,000. Vontobel Holding Ltd. increased its stake in 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. nVerses Capital LLC purchased a new stake in Planet Labs PBC during the 3rd quarter worth $61,000. Finally, SG Americas Securities LLC increased its stake 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 during the period. 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.