Planet Labs PBC (NYSE:PL) Given Consensus Rating of “Moderate Buy” by Brokerages

Planet Labs PBC (NYSE:PL) has been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.93.

Several research firms have issued reports on PL. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. Craig Hallum increased their price target on Planet Labs PBC from $2.00 to $2.50 and gave the stock a “hold” rating in a research report on Friday, September 6th. Needham & Company LLC reduced their price target on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. The Goldman Sachs Group reduced their price target on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $4.00 price target on shares of Planet Labs PBC in a research report on Thursday.

Institutional Investors Weigh In On Planet Labs PBC

A number of large investors have recently modified their holdings of the business. Algert Global LLC bought a new position in shares of Planet Labs PBC in the 2nd quarter valued at $38,000. The Manufacturers Life Insurance Company lifted its stake 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 acquiring an additional 5,395 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of Planet Labs PBC by 343.7% in the 2nd quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after acquiring an additional 133,307 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Planet Labs PBC in the 2nd quarter valued at $201,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Planet Labs PBC by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock valued at $121,000 after acquiring an additional 6,910 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Stock Performance

PL opened at $2.24 on Monday. The business’s 50-day simple moving average is $2.30 and its 200 day simple moving average is $2.10. The firm has a market capitalization of $657.40 million, a PE ratio of -4.67 and a beta of 1.00. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.89.

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.