Planet Labs PBC (NYSE:PL) Given Average Rating of “Buy” by Brokerages

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

Several research analysts have recently issued reports on PL shares. Needham & Company LLC lifted their price target on Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group lifted their price target on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Citigroup lifted their price target on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Benchmark lifted their price target on Planet Labs PBC from $4.00 to $7.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC increased its stake in shares of Planet Labs PBC by 790.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company’s stock valued at $28,000 after acquiring an additional 6,072 shares during the last quarter. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $40,000. Wedbush Securities Inc. acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $42,000. Finally, Sciencast Management LP acquired a new position in shares of Planet Labs PBC during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Down 8.1 %

NYSE:PL opened at $5.69 on Thursday. The company has a market capitalization of $1.69 billion, a PE ratio of -13.87 and a beta of 1.40. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.71. The stock has a fifty day simple moving average of $4.80 and a 200-day simple moving average of $3.37.

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.