Planet Labs PBC (NYSE:PL) Price Target Lowered to $4.00 at Benchmark

Planet Labs PBC (NYSE:PL - Get Free Report) had its price objective lowered by investment analysts at Benchmark from $5.00 to $4.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Benchmark's price target points to a potential upside of 85.61% from the stock's current price.

PL has been the subject of several other research reports. JMP Securities lowered their price target on Planet Labs PBC from $5.50 to $4.00 and set a "market outperform" rating for the company in a report on Monday. Needham & Company LLC restated a "buy" rating and issued a $7.00 price target on shares of Planet Labs PBC in a report on Monday. Finally, Craig Hallum cut 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.49.

Planet Labs PBC Stock Performance

Planet Labs PBC stock traded down $0.10 during midday trading on Tuesday, reaching $2.16. The company's stock had a trading volume of 1,931,066 shares, compared to its average volume of 1,264,067. Planet Labs PBC has a fifty-two week low of $1.99 and a fifty-two week high of $5.00. The firm has a market capitalization of $619.84 million, a PE ratio of -4.23 and a beta of 0.78. The stock's 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.34.

Institutional Trading of Planet Labs PBC

Several institutional investors have recently modified their holdings of the company. Swiss National Bank increased its position in Planet Labs PBC by 1.4% in the 3rd quarter. Swiss National Bank now owns 420,300 shares of the company's stock worth $1,093,000 after purchasing an additional 5,800 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Planet Labs PBC by 8.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 928,654 shares of the company's stock valued at $2,414,000 after purchasing an additional 75,820 shares in the last quarter. Barclays PLC increased its holdings in Planet Labs PBC by 263.5% during the 3rd quarter. Barclays PLC now owns 262,813 shares of the company's stock valued at $683,000 after purchasing an additional 190,510 shares in the last quarter. Jeppson Wealth Management LLC acquired a new stake in shares of Planet Labs PBC in the 4th quarter valued at $44,000. Finally, Brandywine Global Investment Management LLC increased its stake in shares of Planet Labs PBC by 2.0% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 543,400 shares of the company's stock valued at $1,413,000 after buying an additional 10,500 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Company Profile

Planet 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.