Analysts Set Planet Labs PBC (NYSE:PL) Target Price at $6.27

Shares of Planet Labs PBC (NYSE:PL) have received a consensus rating of “Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $6.27.

A number of analysts have issued reports on PL shares. The Goldman Sachs Group boosted their price target on shares of Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Craig Hallum upgraded shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Thursday, January 30th. Cantor Fitzgerald began coverage on shares of Planet Labs PBC in a research note on Friday, January 24th. They set an “overweight” rating and a $6.30 target price on the stock. 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 research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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.

Planet Labs PBC Price Performance

NYSE PL opened at $4.97 on Thursday. The firm’s 50-day moving average is $4.85 and its two-hundred day moving average is $3.42. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.71. The stock has a market capitalization of $1.47 billion, a P/E ratio of -12.11 and a beta of 1.40.

Hedge Funds Weigh In On Planet Labs PBC

A number of institutional investors have recently made changes to their positions in PL. Sterling Capital Management LLC raised its position in shares of Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after purchasing an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC during the 4th quarter valued at approximately $40,000. Wedbush Securities Inc. acquired a new stake in shares of Planet Labs PBC during the 4th quarter valued at approximately $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Planet Labs PBC during the 4th quarter valued at approximately $42,000. Finally, Sciencast Management LP acquired a new stake in shares of Planet Labs PBC during the 4th quarter valued at approximately $43,000. 41.71% of the stock is owned by institutional investors and hedge funds.

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.