Planet Labs PBC (NYSE:PL) Receives $4.33 Average Target Price from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.33.

PL has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their target price on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Craig Hallum lifted 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group decreased their target price on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research report on Tuesday, September 10th.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Planet Labs PBC by 16.5% during the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after acquiring an additional 689,888 shares in the last quarter. State Street Corp raised its holdings 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 in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in shares of Planet Labs PBC by 28.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after purchasing an additional 400,000 shares during the period. Franklin Resources Inc. boosted its stake in shares of Planet Labs PBC by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock valued at $4,105,000 after purchasing an additional 71,719 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Planet Labs PBC by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock valued at $3,864,000 after purchasing an additional 201,084 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Stock Performance

Shares of NYSE:PL opened at $4.22 on Wednesday. The firm has a market capitalization of $1.25 billion, a PE ratio of -10.29 and a beta of 1.34. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $4.99. The firm has a fifty day moving average of $3.52 and a 200 day moving average of $2.67.

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.