Planet Labs PBC (NYSE:PL) PT Lowered to $4.20

Planet Labs PBC (NYSE:PL - Get Free Report) had its price target decreased by analysts at The Goldman Sachs Group from $4.80 to $4.20 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 110.00% from the stock's previous close.

Several other equities research analysts have also issued reports on PL. Benchmark lowered their price target on shares of Planet Labs PBC from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday, April 2nd. Citigroup decreased their target price on Planet Labs PBC from $4.50 to $3.90 and set a "buy" rating on the stock in a report on Thursday, April 4th. JMP Securities cut 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, April 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price objective on shares of Planet Labs PBC in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.01.

Planet Labs PBC Trading Down 3.4 %

Shares of Planet Labs PBC stock traded down $0.07 during trading on Friday, reaching $2.00. The stock had a trading volume of 1,403,229 shares, compared to its average volume of 1,271,872. The company has a market capitalization of $581.24 million, a price-to-earnings ratio of -4.04 and a beta of 0.79. Planet Labs PBC has a 52 week low of $1.99 and a 52 week high of $5.00. The stock has a fifty day moving average price of $2.24 and a two-hundred day moving average price of $2.31.

Institutional Inflows and Outflows

Institutional investors and 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 175.6% in the third quarter. Vanguard Group Inc. now owns 16,887,991 shares of the company's stock valued at $91,702,000 after buying an additional 10,759,901 shares during the period. BlackRock Inc. acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth $23,671,000. State Street Corp increased its position in shares of Planet Labs PBC by 580.7% in the second quarter. State Street Corp now owns 4,064,196 shares of the company's stock worth $17,598,000 after purchasing an additional 3,467,126 shares during the period. Voya Investment Management LLC raised its stake in Planet Labs PBC by 161.2% in the fourth quarter. Voya Investment Management LLC now owns 2,020,521 shares of the company's stock valued at $4,991,000 after purchasing an additional 1,246,940 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Planet Labs PBC by 352.8% during the second quarter. Northern Trust Corp now owns 1,418,888 shares of the company's stock worth $6,144,000 after purchasing an additional 1,105,535 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.