Planet Labs PBC (NYSE:PL) Price Target Raised to $6.40 at The Goldman Sachs Group

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective upped by equities research analysts at The Goldman Sachs Group from $5.00 to $6.40 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would suggest a potential upside of 3.64% from the company's current price.

Several other equities research analysts also recently issued reports on PL. Craig Hallum upgraded Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased 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 report on Tuesday, December 17th. JMP Securities lifted their price objective on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a report on Thursday, January 30th. Northland Securities increased their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Finally, Needham & Company LLC boosted their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Planet Labs PBC currently has a consensus rating of "Buy" and an average price target of $6.27.

Planet Labs PBC Trading Down 3.1 %

Planet Labs PBC stock traded down $0.20 during trading on Monday, hitting $6.18. The company had a trading volume of 5,311,522 shares, compared to its average volume of 6,738,095. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -15.06 and a beta of 1.40. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.55. The company's 50 day simple moving average is $4.39 and its 200-day simple moving average is $3.11.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently modified their holdings of PL. Geode Capital Management LLC raised its position in Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company's stock worth $10,864,000 after buying an additional 689,888 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Planet Labs PBC by 119.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company's stock worth $1,996,000 after acquiring an additional 487,958 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Planet Labs PBC by 28.2% during the third 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 in the last quarter. Van ECK Associates Corp lifted its position in Planet Labs PBC by 244.3% in the fourth quarter. Van ECK Associates Corp now owns 520,364 shares of the company's stock valued at $2,102,000 after purchasing an additional 369,206 shares during the period. Finally, State Street Corp increased its position in Planet Labs PBC by 5.7% during 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 during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.