Planet Labs PBC (NYSE:PL) Coverage Initiated by Analysts at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald started coverage on shares of Planet Labs PBC (NYSE:PL) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $6.30 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 33.02% from the stock’s previous close.

A number of other research analysts also recently issued reports on PL. Citigroup boosted their price target on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a report on Monday, December 16th. JMP Securities reiterated a “market outperform” rating and issued a $4.50 price target (up from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Craig Hallum boosted their price target on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.54.

Planet Labs PBC Trading Up 6.7 %

Shares of PL opened at $4.74 on Friday. The stock has a 50-day moving average price of $3.95 and a 200-day moving average price of $2.87. Planet Labs PBC has a 12-month low of $1.67 and a 12-month high of $4.99.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Algert Global LLC acquired a new stake in Planet Labs PBC in the 2nd quarter valued at approximately $38,000. Monterey Private Wealth Inc. purchased a new stake in shares of Planet Labs PBC in the 4th quarter valued at $40,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC during the 3rd quarter worth about $45,000. Vontobel Holding Ltd. lifted its position in shares of Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after purchasing an additional 10,000 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in shares of Planet Labs PBC in the fourth quarter worth $55,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

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.