Northland Securities Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its target price raised by equities researchers at Northland Securities from $5.00 to $7.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Northland Securities’ price objective suggests a potential upside of 15.23% from the company’s previous close.

A number of other research firms have also weighed in on PL. Deutsche Bank Aktiengesellschaft upped their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, January 17th. Cantor Fitzgerald initiated coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective on the stock. Citigroup upped their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Craig Hallum lifted their price target on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.64.

Planet Labs PBC Trading Up 4.4 %

Shares of PL stock opened at $6.08 on Thursday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.36. The stock has a fifty day simple moving average of $4.19 and a two-hundred day simple moving average of $2.99. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.82 and a beta of 1.32.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new stake in shares of Planet Labs PBC during the second quarter worth about $38,000. Monterey Private Wealth Inc. purchased a new stake in Planet Labs PBC during the 4th quarter worth approximately $40,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC during the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. raised its holdings in shares of Planet Labs PBC by 81.5% in the third 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. Finally, PFG Investments LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $55,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.