Planet Labs PBC (NYSE:PL) Upgraded to “Buy” at Craig Hallum

Planet Labs PBC (NYSE:PL) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report released on Thursday, MarketBeat reports. The firm presently has a $7.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 15.23% from the stock’s current price.

A number of other research firms have also weighed in on PL. Cantor Fitzgerald began coverage on Planet Labs PBC in a research report on Friday, January 24th. They set an “overweight” rating and a $6.30 price objective on the stock. Needham & Company LLC increased their price target on Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $4.50 price objective (up previously from $4.00) on shares of Planet Labs PBC in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped 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, Citigroup lifted their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $5.64.

Planet Labs PBC Stock Up 4.4 %

Shares of PL opened at $6.08 on Thursday. The company has a market cap of $1.80 billion, a P/E ratio of -14.82 and a beta of 1.32. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.36. The firm’s 50 day moving average price is $4.19 and its 200 day moving average price is $2.99.

Institutional Trading of Planet Labs PBC

Several institutional investors have recently modified their holdings of PL. The Manufacturers Life Insurance Company grew its position in shares of Planet Labs PBC by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock valued at $134,000 after buying an additional 5,395 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Planet Labs PBC by 81.5% in the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock valued at $50,000 after acquiring an additional 10,000 shares in the last quarter. Monterey Private Wealth Inc. purchased a new position in shares of Planet Labs PBC during the fourth quarter worth about $40,000. PFG Investments LLC acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth about $55,000. Finally, Rhumbline Advisers boosted its position in shares of Planet Labs PBC by 5.0% in the 4th quarter. Rhumbline Advisers now owns 287,258 shares of the company’s stock valued at $1,161,000 after purchasing an additional 13,580 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.