Northland Securities Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its price objective hoisted by Northland Securities from $5.00 to $7.00 in a research report released on Thursday,Benzinga reports. Northland Securities currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and set a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research report on Friday, January 17th. Craig Hallum upped their price target on shares of Planet Labs PBC from $2.50 to $3.50 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Cantor Fitzgerald initiated coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective for the company. Finally, Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $5.64.

Planet Labs PBC Price Performance

Planet Labs PBC stock opened at $5.81 on Thursday. The firm has a 50 day moving average price of $4.14 and a 200-day moving average price of $2.97. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.25.

Hedge Funds Weigh In On Planet Labs PBC

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its stake in shares of Planet Labs PBC by 15.7% in the second quarter. American Century Companies Inc. now owns 316,535 shares of the company’s stock worth $589,000 after buying an additional 42,847 shares during the period. Renaissance Technologies LLC raised its stake in Planet Labs PBC by 52.2% during the 2nd quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after acquiring an additional 206,000 shares during the period. Squarepoint Ops LLC lifted its holdings in Planet Labs PBC by 343.7% during the second quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after purchasing an additional 133,307 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Planet Labs PBC by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after purchasing an additional 5,395 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Planet Labs PBC in the second quarter worth $38,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.