Planet Labs PBC (NYSE:PL) Coverage Initiated at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Planet Labs PBC (NYSE:PL) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $6.30 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 33.02% from the company’s current price.

A number of other equities analysts have also issued reports on the company. Citigroup raised their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Craig Hallum boosted their target price on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a report on Tuesday, December 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Planet Labs PBC in a report on Friday, January 17th. JMP Securities reissued a “market outperform” rating and issued a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.54.

Planet Labs PBC Trading Up 6.7 %

Shares of NYSE:PL opened at $4.74 on Friday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $4.99. The firm has a fifty day moving average price of $3.95 and a 200 day moving average price of $2.87.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC purchased a new stake in shares of Planet Labs PBC in the 2nd quarter worth about $38,000. Monterey Private Wealth Inc. acquired a new position in Planet Labs PBC in the 4th quarter valued at about $40,000. Valeo Financial Advisors LLC purchased a new position in Planet Labs PBC in the 3rd quarter valued at about $45,000. Vontobel Holding Ltd. boosted 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 purchasing an additional 10,000 shares during the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Planet Labs PBC during the fourth quarter worth about $55,000. Institutional investors and hedge funds 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.