Planet Labs PBC (NYSE:PL) Receives $6.27 Consensus Target Price from Analysts

Shares of Planet Labs PBC (NYSE:PL) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $6.27.

PL has been the topic of several recent analyst reports. Cantor Fitzgerald began coverage on shares of Planet Labs PBC in a research note on Friday, January 24th. They issued an “overweight” rating and a $6.30 price target on the stock. The Goldman Sachs Group raised 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. Benchmark raised their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Needham & Company LLC raised their price target on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its holdings in Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock worth $28,000 after acquiring an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the 4th quarter worth about $40,000. Wedbush Securities Inc. bought a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. bought a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $42,000. Finally, Sciencast Management LP bought a new stake in shares of Planet Labs PBC in the 4th quarter valued at about $43,000. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Stock Up 6.9 %

PL stock opened at $4.70 on Thursday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.45 and a beta of 1.40. The firm’s fifty day simple moving average is $4.87 and its two-hundred day simple moving average is $3.47.

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.