Analysts Set Planet Labs PBC (NYSE:PL) Target Price at $6.27

Planet Labs PBC (NYSE:PL) has earned an average rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.27.

Several equities analysts have recently commented on PL shares. JMP Securities boosted 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 report on Thursday, January 30th. Citigroup boosted their target price on shares of 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 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. Northland Securities boosted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC increased its position in Planet Labs PBC by 790.6% in the fourth 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 during the last quarter. Monterey Private Wealth Inc. bought a new position in Planet Labs PBC during the fourth quarter valued at $40,000. Wedbush Securities Inc. bought a new position in Planet Labs PBC during the fourth quarter valued at $41,000. SBI Securities Co. Ltd. bought a new position in Planet Labs PBC during the fourth quarter valued at $42,000. Finally, Sciencast Management LP bought a new position in Planet Labs PBC during the fourth quarter valued at $43,000. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $4.70 on Thursday. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.71. The company has a market capitalization of $1.39 billion, a P/E ratio of -11.45 and a beta of 1.40. The firm’s 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $3.47.

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.