Planet Labs PBC (NYSE:PL) Price Target Raised to $6.40

Planet Labs PBC (NYSE:PL) had its price objective hoisted by The Goldman Sachs Group from $5.00 to $6.40 in a research note released on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also issued reports on the company. Citigroup increased their target price on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Northland Securities upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Thursday, January 30th. Needham & Company LLC lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.27.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock opened at $6.38 on Monday. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.55. The stock has a market cap of $1.89 billion, a PE ratio of -15.55 and a beta of 1.40. The firm has a 50-day moving average of $4.34 and a 200-day moving average of $3.09.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently added to or reduced their stakes in PL. Algert Global LLC acquired a new stake in shares of Planet Labs PBC in the second quarter valued at about $38,000. Monterey Private Wealth Inc. bought a new stake in Planet Labs PBC in the fourth quarter valued at approximately $40,000. Valeo Financial Advisors LLC acquired a new stake in Planet Labs PBC during the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. raised its holdings in 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 bought a new position in Planet Labs PBC during the 4th quarter worth approximately $55,000. 41.71% of the stock is owned by institutional investors.

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.