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

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

A number of research firms recently commented on PL. Deutsche Bank Aktiengesellschaft upped their price objective on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JMP Securities upped their price objective on Planet Labs PBC from $4.50 to $6.50 and gave the company a “market outperform” rating in a research report on Thursday, January 30th. Citigroup upped 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. Northland Securities upped their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Thursday, January 30th.

Hedge Funds Weigh In On Planet Labs PBC

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Planet Labs PBC by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company’s stock worth $64,448,000 after acquiring an additional 397,153 shares during the period. Geode Capital Management LLC boosted its stake in Planet Labs PBC by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company’s stock valued at $19,961,000 after buying an additional 69,245 shares during the last quarter. State Street Corp boosted its stake in Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after buying an additional 230,076 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in Planet Labs PBC by 14.4% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,078,958 shares of the company’s stock valued at $8,399,000 after buying an additional 261,958 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Planet Labs PBC by 101.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,013,845 shares of the company’s stock valued at $8,140,000 after buying an additional 1,013,234 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Planet Labs PBC Price Performance

Shares of NYSE:PL opened at $4.69 on Thursday. The company has a market cap of $1.39 billion, a P/E ratio of -11.43 and a beta of 1.40. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.71. The stock’s fifty day moving average price is $4.85 and its 200-day moving average price is $3.45.

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.