Analysts Set Planet Labs PBC (NYSE:PL) Target Price at $3.93

Planet Labs PBC (NYSE:PL) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.00.

A number of brokerages have weighed in on PL. Craig Hallum lifted their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research report on Friday, September 6th. Needham & Company LLC dropped their price objective on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, September 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research report on Monday. The Goldman Sachs Group lowered their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th.

Institutional Trading of Planet Labs PBC

A number of hedge funds have recently modified their holdings of PL. Price T Rowe Associates Inc. MD increased its stake in shares of Planet Labs PBC by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock worth $130,000 after purchasing an additional 6,215 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock worth $83,000 after buying an additional 31,160 shares during the last quarter. Perkins Coie Trust Co bought a new stake in shares of Planet Labs PBC in the second quarter valued at approximately $28,000. 180 Wealth Advisors LLC grew its stake in shares of Planet Labs PBC by 15.6% in the second quarter. 180 Wealth Advisors LLC now owns 151,412 shares of the company’s stock worth $297,000 after acquiring an additional 20,486 shares during the last quarter. Finally, ARS Investment Partners LLC acquired a new position in Planet Labs PBC during the 2nd quarter valued at $164,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Trading Down 2.9 %

Shares of PL stock opened at $4.04 on Friday. The company has a market capitalization of $1.19 billion, a P/E ratio of -8.49 and a beta of 1.33. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99. The business’s 50 day moving average is $2.79 and its two-hundred day moving average is $2.36.

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.