Northland Securities Issues Positive Forecast for Planet Labs PBC (NYSE:PL) Stock Price

Planet Labs PBC (NYSE:PL - Get Free Report) had its target price raised by equities researchers at Northland Securities from $5.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Northland Securities' price target points to a potential upside of 15.23% from the company's current price.

A number of other brokerages also recently issued reports on PL. Deutsche Bank Aktiengesellschaft increased their price target on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a report on Tuesday, December 17th. Craig Hallum upped their price objective on Planet Labs PBC from $2.50 to $3.50 and gave the company a "hold" rating in a research report on Tuesday, December 10th. Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a "buy" rating in a report on Monday, December 16th. JMP Securities reiterated 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. Finally, Cantor Fitzgerald initiated coverage on Planet Labs PBC in a report on Friday, January 24th. They set an "overweight" rating and a $6.30 price objective for the company. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $5.64.

Planet Labs PBC Stock Performance

NYSE PL traded up $0.26 on Thursday, reaching $6.08. The stock had a trading volume of 11,062,323 shares, compared to its average volume of 5,500,005. The stock has a market cap of $1.80 billion, a P/E ratio of -14.82 and a beta of 1.32. The business's 50-day moving average price is $4.24 and its 200 day moving average price is $3.02. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $6.36.

Hedge Funds Weigh In On Planet Labs PBC

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of 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 worth $10,864,000 after purchasing an additional 689,888 shares during the last quarter. State Street Corp grew its position in Planet Labs PBC by 5.7% in the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock worth $9,528,000 after buying an additional 230,076 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in shares of Planet Labs PBC by 28.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company's stock valued at $4,052,000 after buying an additional 400,000 shares in the last quarter. Franklin Resources Inc. lifted its position 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 acquiring an additional 71,719 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 201,084 shares during the last quarter. Institutional investors own 41.71% of the company's stock.

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.