Planet Labs PBC (NYSE:PL) Price Target Raised to $6.50

Planet Labs PBC (NYSE:PL) had its target price upped by JMP Securities from $4.50 to $6.50 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

PL has been the topic of several other research reports. Craig Hallum raised 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 report on Thursday. Northland Securities boosted their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald assumed coverage on Planet Labs PBC in a research report on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective for the company. Needham & Company LLC boosted their target price on Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $5.64.

Planet Labs PBC Trading Up 4.4 %

NYSE PL opened at $6.08 on Thursday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $6.36. The stock has a market cap of $1.80 billion, a PE ratio of -14.82 and a beta of 1.32. The stock’s 50 day moving average is $4.24 and its 200 day moving average is $3.02.

Hedge Funds Weigh In On Planet Labs PBC

Several large investors have recently modified their holdings of PL. Algert Global LLC purchased a new stake in Planet Labs PBC in the 2nd quarter worth about $38,000. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC during the fourth quarter valued at approximately $40,000. Valeo Financial Advisors LLC purchased a new stake in shares of Planet Labs PBC in the third quarter worth approximately $45,000. Vontobel Holding Ltd. lifted 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 acquiring an additional 10,000 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in Planet Labs PBC during the 4th quarter valued at $55,000. Institutional investors own 41.71% of the company’s stock.

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.