Craig Hallum upgraded shares of Planet Labs PBC (NYSE:PL - Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, MarketBeat reports. Craig Hallum currently has $7.00 price objective on the stock.
Several other research firms also recently commented on PL. Cantor Fitzgerald initiated coverage on Planet Labs PBC in a research note on Friday, January 24th. They issued an "overweight" rating and a $6.30 price objective on the stock. Needham & Company LLC raised their price objective on Planet Labs PBC from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday. Citigroup lifted their target price on Planet Labs PBC from $4.05 to $5.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Planet Labs PBC from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Tuesday, December 17th. Finally, JMP Securities reissued a "market outperform" rating and set a $4.50 target price (up previously from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $5.64.
Read Our Latest Analysis on Planet Labs PBC
Planet Labs PBC Stock Up 4.4 %
NYSE:PL traded up $0.26 on Thursday, hitting $6.08. The stock had a trading volume of 11,062,323 shares, compared to its average volume of 6,681,436. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -14.82 and a beta of 1.32. The business's 50-day simple moving average is $4.19 and its two-hundred day simple moving average is $2.99. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.36.
Institutional Trading of Planet Labs PBC
Large investors have recently added to or reduced their stakes in the company. Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC in the 4th quarter worth approximately $40,000. PFG Investments LLC purchased a new position in shares of Planet Labs PBC in the 4th quarter worth approximately $55,000. Valeo Financial Advisors LLC purchased a new position in shares of Planet Labs PBC in the 3rd quarter worth approximately $45,000. Algert Global LLC purchased a new position in shares of Planet Labs PBC in the 2nd quarter worth approximately $38,000. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company's stock worth $50,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 41.71% of the company's stock.
About Planet Labs PBC
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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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