Brokerages Set Planet Labs PBC (NYSE:PL) Price Target at $6.27

Shares of Planet Labs PBC (NYSE:PL - Get Free Report) have been assigned a consensus recommendation of "Buy" from the ten research firms that are covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.27.

A number of analysts recently issued reports on PL shares. The Goldman Sachs Group lifted their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Needham & Company LLC lifted their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Benchmark lifted their price objective on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a report on Thursday, January 30th. Finally, JMP Securities lifted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a "market outperform" rating in a report on Thursday, January 30th.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors have recently bought and sold shares of PL. SG Americas Securities LLC lifted its holdings in Planet Labs PBC by 65.9% in the third quarter. SG Americas Securities LLC now owns 73,723 shares of the company's stock worth $164,000 after purchasing an additional 29,281 shares during the period. Vontobel Holding Ltd. raised its position in Planet Labs PBC by 81.5% in the third 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. Conestoga Capital Advisors LLC raised its position in Planet Labs PBC by 24.5% in the third quarter. Conestoga Capital Advisors LLC now owns 495,450 shares of the company's stock worth $1,105,000 after acquiring an additional 97,350 shares in the last quarter. Van ECK Associates Corp raised its position in Planet Labs PBC by 45.7% in the third quarter. Van ECK Associates Corp now owns 151,158 shares of the company's stock worth $345,000 after acquiring an additional 47,390 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Planet Labs PBC by 13.8% in the third quarter. King Luther Capital Management Corp now owns 455,000 shares of the company's stock worth $1,015,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Price Performance

Shares of NYSE:PL traded down $0.49 during midday trading on Thursday, reaching $4.97. The company had a trading volume of 6,152,779 shares, compared to its average volume of 8,108,136. The stock's fifty day moving average price is $4.85 and its 200-day moving average price is $3.42. The stock has a market capitalization of $1.47 billion, a P/E ratio of -12.11 and a beta of 1.40. Planet Labs PBC has a one year low of $1.67 and a one year high of $6.71.

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.