Planet Labs PBC (NYSE:PL) Receives $4.54 Consensus Target Price from Analysts

Shares of Planet Labs PBC (NYSE:PL) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $4.54.

PL has been the topic of several analyst reports. Citigroup upped their target price on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JMP Securities reaffirmed a “market outperform” rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft boosted 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. Cantor Fitzgerald started coverage on Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 price target for the company. Finally, Craig Hallum lifted their price objective on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research report on Tuesday, December 10th.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Planet Labs PBC by 8.1% in the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after purchasing an additional 5,395 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Planet Labs PBC by 11.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after buying an additional 6,910 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares during the last quarter. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at about $40,000. Finally, PFG Investments LLC bought a new stake in Planet Labs PBC during the fourth quarter worth about $55,000. 41.71% of the stock is owned by institutional investors.

Planet Labs PBC Price Performance

Shares of PL stock opened at $5.46 on Friday. Planet Labs PBC has a one year low of $1.67 and a one year high of $5.55. The stock has a fifty day moving average price of $4.04 and a 200 day moving average price of $2.93. The stock has a market cap of $1.62 billion, a P/E ratio of -13.33 and a beta of 1.32.

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.