Planet Labs PBC (NYSE:PL) Trading 9.2% Higher – Here’s What Happened

Shares of Planet Labs PBC (NYSE:PL) traded up 9.2% on Monday . The company traded as high as $6.52 and last traded at $6.55. 4,735,587 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 6,643,646 shares. The stock had previously closed at $6.00.

Analyst Upgrades and Downgrades

PL has been the subject of a number of recent research reports. Needham & Company LLC lifted their price objective on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Citigroup lifted their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Benchmark lifted 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. JMP Securities raised their target price on shares of Planet Labs PBC from $4.50 to $6.50 and gave the stock a “market outperform” rating in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price objective on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Planet Labs PBC has an average rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Stock Down 1.1 %

The business has a 50 day moving average of $4.56 and a 200 day moving average of $3.22. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -14.93 and a beta of 1.40.

Institutional Trading of Planet Labs PBC

Large investors have recently modified their holdings of the business. Monterey Private Wealth Inc. acquired a new stake in Planet Labs PBC in the fourth quarter worth about $40,000. SBI Securities Co. Ltd. purchased a new stake in shares of Planet Labs PBC in the fourth quarter worth approximately $42,000. Sciencast Management LP purchased a new position in shares of Planet Labs PBC during the 4th quarter valued at $43,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC in the third quarter worth approximately $45,000. Finally, Vontobel Holding Ltd. increased its holdings 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 valued at $50,000 after acquiring an additional 10,000 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.