Needham & Company LLC Reaffirms “Buy” Rating for Planet Labs PBC (NYSE:PL)

Planet Labs PBC (NYSE:PLGet Free Report)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $5.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 31.06% from the company’s previous close.

Several other research analysts also recently commented on the stock. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted 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 note on Tuesday, December 17th. JMP Securities reissued a “market outperform” rating and set a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Finally, Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.33.

Get Our Latest Report on PL

Planet Labs PBC Price Performance

Shares of PL opened at $3.82 on Friday. The firm’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $2.80. The company has a market capitalization of $1.13 billion, a P/E ratio of -9.30 and a beta of 1.32. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $4.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC in the fourth quarter worth approximately $40,000. Valeo Financial Advisors LLC bought a new stake in Planet Labs PBC in the third quarter valued at $45,000. Algert Global LLC bought a new stake in Planet Labs PBC in the second quarter valued at $38,000. Vontobel Holding Ltd. boosted its holdings in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after acquiring an additional 10,000 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Planet Labs PBC in the third quarter valued at $61,000. Institutional investors own 41.71% of the company’s stock.

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.

Read More

Analyst Recommendations for Planet Labs PBC (NYSE:PL)

Receive News & Ratings for Planet Labs PBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Labs PBC and related companies with MarketBeat.com's FREE daily email newsletter.