Planet Labs PBC (NYSE:PL) Given Average Rating of “Buy” by Brokerages

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $6.27.

PL has been the topic of a number of recent 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, January 30th. Needham & Company LLC lifted their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Northland Securities lifted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JMP Securities lifted their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald initiated coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They issued an “overweight” rating and a $6.30 target price on the stock.

Planet Labs PBC Trading Down 8.1 %

PL stock opened at $5.69 on Thursday. The company’s 50 day moving average is $4.80 and its two-hundred day moving average is $3.37. The stock has a market cap of $1.69 billion, a P/E ratio of -13.87 and a beta of 1.40. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sterling Capital Management LLC boosted its position in shares of 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 purchasing an additional 6,072 shares in the last quarter. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $40,000. Wedbush Securities Inc. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $42,000. Finally, Sciencast Management LP purchased a new stake in shares of Planet Labs PBC during the 4th quarter worth $43,000. 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.