Planet Labs PBC (NYSE:PL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Planet Labs PBC (NYSE:PL) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.54.

A number of equities analysts recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Planet Labs PBC in a research note on Friday. They set an “overweight” rating and a $6.30 target price for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. Craig Hallum raised their price objective on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, December 10th. 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 report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th.

Planet Labs PBC Stock Performance

PL stock opened at $5.43 on Friday. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $5.55. The company’s 50 day moving average price is $4.00 and its 200 day moving average price is $2.89. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -13.23 and a beta of 1.32.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its position in Planet Labs PBC by 15.7% in the 2nd quarter. American Century Companies Inc. now owns 316,535 shares of the company’s stock valued at $589,000 after acquiring an additional 42,847 shares during the period. Renaissance Technologies LLC raised its stake in shares of Planet Labs PBC by 52.2% during the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after purchasing an additional 206,000 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Planet Labs PBC by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after purchasing an additional 6,910 shares during the period. XTX Topco Ltd purchased a new position in Planet Labs PBC in the 2nd quarter valued at $201,000. Finally, Squarepoint Ops LLC increased its stake in Planet Labs PBC by 343.7% in the 2nd quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after buying an additional 133,307 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.