Planet Labs PBC (NYSE:PL) Stock Rating Upgraded by Craig Hallum

Craig Hallum upgraded shares of Planet Labs PBC (NYSE:PL) from a hold rating to a buy rating in a research report released on Thursday, Marketbeat Ratings reports. Craig Hallum currently has $7.00 price objective on the stock.

Several other equities research analysts also recently commented on PL. Northland Securities lifted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $4.50 price objective (up from $4.00) on shares of Planet Labs PBC in a report on Monday, December 9th. 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 report on Tuesday, December 17th. Needham & Company LLC boosted their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Citigroup raised their price target on 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, Based on data from MarketBeat.com, Planet Labs PBC presently has a consensus rating of “Buy” and a consensus target price of $5.64.

Planet Labs PBC Trading Up 4.6 %

Shares of NYSE PL opened at $5.81 on Thursday. The firm’s 50 day moving average price is $4.14 and its 200-day moving average price is $2.97. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $6.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PL. Geode Capital Management LLC raised its holdings in shares of Planet Labs PBC by 16.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock worth $10,864,000 after acquiring an additional 689,888 shares in the last quarter. State Street Corp boosted its position in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company’s stock valued at $9,528,000 after buying an additional 230,076 shares during the period. ArrowMark Colorado Holdings LLC grew its stake in shares of Planet Labs PBC by 28.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Planet Labs PBC by 4.1% in the third quarter. Franklin Resources Inc. now owns 1,808,487 shares of the company’s stock worth $4,105,000 after buying an additional 71,719 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Planet Labs PBC by 13.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,732,546 shares of the company’s stock worth $3,864,000 after acquiring an additional 201,084 shares during the last quarter. 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.