Planet Labs PBC (NYSE:PL - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.59.
Several brokerages have recently weighed in on PL. JMP Securities decreased their target price on shares of Planet Labs PBC from $5.50 to $4.00 and set a "market outperform" rating for the company in a research note on Monday. Craig Hallum cut shares of Planet Labs PBC from a "buy" rating to a "hold" rating and set a $3.00 price target for the company. in a report on Friday, December 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $7.00 price target on shares of Planet Labs PBC in a report on Monday.
View Our Latest Research Report on PL
Institutional Investors Weigh In On Planet Labs PBC
A number of hedge funds and other institutional investors have recently modified their holdings of PL. Raymond James & Associates lifted its position in shares of Planet Labs PBC by 385.7% during the 1st quarter. Raymond James & Associates now owns 67,400 shares of the company's stock valued at $342,000 after acquiring an additional 53,524 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $412,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $147,000. BlackRock Inc. acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $23,671,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Planet Labs PBC during the 1st quarter worth approximately $2,828,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.
Planet Labs PBC Stock Performance
NYSE PL traded down $0.30 during trading hours on Monday, hitting $2.25. The company had a trading volume of 3,305,483 shares, compared to its average volume of 1,253,097. Planet Labs PBC has a 1-year low of $1.99 and a 1-year high of $5.00. The company has a market cap of $647.17 million, a PE ratio of -4.41 and a beta of 0.78. The business has a 50 day moving average of $2.28 and a 200-day moving average of $2.34.
About Planet Labs PBC
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Get Free ReportPlanet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.
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