Planet Labs PBC (NYSE:PL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Planet Labs PBC (NYSE:PL) has received a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.93.

PL has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Planet Labs PBC in a research note on Friday. Craig Hallum raised their price objective on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. The Goldman Sachs Group dropped their price objective on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Needham & Company LLC dropped their price objective on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, September 6th.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Planet Labs PBC by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after acquiring an additional 261,019 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Planet Labs PBC in the 1st quarter valued at about $164,000. PEAK6 Investments LLC grew its holdings in shares of Planet Labs PBC by 224.2% in the 1st quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock valued at $765,000 after acquiring an additional 207,558 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Planet Labs PBC in the 2nd quarter valued at about $632,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Planet Labs PBC in the 4th quarter valued at about $34,000. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Stock Down 2.8 %

PL stock opened at $2.06 on Monday. The business’s fifty day moving average is $2.31 and its 200-day moving average is $2.10. The company has a market cap of $598.99 million, a P/E ratio of -4.29 and a beta of 1.00. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $2.89.

About Planet Labs PBC

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.