Planet Labs PBC (NYSE:PL) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Planet Labs PBC (NYSE:PL) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $4.33.

PL has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $4.50 target price (up from $4.00) on shares of Planet Labs PBC in a research report on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Planet Labs PBC in a research note on Tuesday, December 10th. Craig Hallum boosted their price target on Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Citigroup raised their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group dropped their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th.

Institutional Trading of Planet Labs PBC

A number of large investors have recently made changes to their positions in the stock. Algert Global LLC bought a new stake in shares of Planet Labs PBC during the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC purchased a new position in shares of Planet Labs PBC in the third quarter worth approximately $45,000. Vontobel Holding Ltd. grew its position in Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after buying an additional 10,000 shares during the period. nVerses Capital LLC purchased a new stake in Planet Labs PBC during the third quarter valued at approximately $61,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in Planet Labs PBC by 11.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after acquiring an additional 6,910 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Planet Labs PBC Stock Up 6.3 %

Shares of PL stock opened at $4.22 on Wednesday. The business’s fifty day moving average is $3.52 and its 200 day moving average is $2.67. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -10.29 and a beta of 1.34. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $4.99.

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.