Planet Labs PBC (NYSE:PL – Get Free Report)’s share price was down 5.2% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $3.50 to $3.10. The Goldman Sachs Group currently has a buy rating on the stock. Planet Labs PBC traded as low as $1.82 and last traded at $1.82. Approximately 873,257 shares were traded during trading, a decline of 47% from the average daily volume of 1,663,009 shares. The stock had previously closed at $1.92.
Several other brokerages have also commented on PL. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Planet Labs PBC in a research report on Friday, August 16th. Craig Hallum raised their price objective on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Friday. JMP Securities reiterated a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research report on Friday. Finally, Needham & Company LLC reduced their price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Planet Labs PBC has an average rating of “Moderate Buy” and a consensus price target of $3.93.
Hedge Funds Weigh In On Planet Labs PBC
Planet Labs PBC Price Performance
The firm has a fifty day moving average price of $2.27 and a 200-day moving average price of $2.11. The company has a market capitalization of $532.11 million, a P/E ratio of -3.82 and a beta of 0.99.
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.
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