Planet Labs PBC (NYSE:PL - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $6.25 and last traded at $5.53, with a volume of 24481247 shares trading hands. The stock had previously closed at $5.46.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Northland Securities increased their price target on Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Planet Labs PBC from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Tuesday, December 17th. JMP Securities boosted their price target on Planet Labs PBC from $4.50 to $6.50 and gave the company a "market outperform" rating in a research note on Thursday. Needham & Company LLC raised their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a "buy" rating in a report on Thursday. Finally, Craig Hallum raised shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price target for the company in a report on Thursday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $5.64.
Check Out Our Latest Stock Report on Planet Labs PBC
Planet Labs PBC Trading Up 4.6 %
The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -14.16 and a beta of 1.32. The stock's 50-day moving average is $4.14 and its 200-day moving average is $2.97.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its position in Planet Labs PBC by 5.0% during the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company's stock worth $1,161,000 after acquiring an additional 13,580 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Planet Labs PBC by 244.3% during 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 in the last quarter. Jennison Associates LLC bought a new stake in shares of Planet Labs PBC during the fourth quarter worth about $638,000. PFG Investments LLC acquired a new position in shares of Planet Labs PBC in the fourth quarter valued at approximately $55,000. Finally, Aspiring Ventures LLC bought a new position in Planet Labs PBC in the 4th quarter valued at approximately $849,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.
About Planet Labs PBC
(
Get Free Report)
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.
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