Planet Labs PBC (NYSE:PL) Receives $5.74 Consensus Price Target from Brokerages

Shares of Planet Labs PBC (NYSE:PL) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $5.21.

PL has been the subject of a number of research analyst reports. JMP Securities lowered their target price on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research note on Monday. Needham & Company LLC restated a “buy” rating and issued a $7.00 target price on shares of Planet Labs PBC in a research note on Monday. Benchmark lowered their target price on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Craig Hallum lowered Planet Labs PBC from a “buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a research report on Friday, December 8th.

Institutional Trading of Planet Labs PBC

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Planet Labs PBC by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 18,276,242 shares of the company’s stock worth $45,142,000 after purchasing an additional 502,346 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Planet Labs PBC by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 44,463 shares of the company’s stock worth $110,000 after purchasing an additional 5,078 shares during the last quarter. Barclays PLC increased its holdings in shares of Planet Labs PBC by 82.1% in the fourth quarter. Barclays PLC now owns 478,582 shares of the company’s stock worth $1,182,000 after purchasing an additional 215,769 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Planet Labs PBC by 161.2% in the fourth quarter. Voya Investment Management LLC now owns 2,020,521 shares of the company’s stock worth $4,991,000 after purchasing an additional 1,246,940 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Planet Labs PBC by 89.5% in the fourth quarter. Royal Bank of Canada now owns 60,997 shares of the company’s stock worth $150,000 after purchasing an additional 28,811 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Down 1.4 %

PL opened at $2.13 on Monday. The stock has a market cap of $612.64 million, a PE ratio of -4.18 and a beta of 0.79. The business has a 50 day moving average of $2.27 and a 200-day moving average of $2.33. Planet Labs PBC has a 52 week low of $1.99 and a 52 week high of $5.00.

About Planet Labs PBC

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.