Planet Labs PBC (NYSE:PL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Planet Labs PBC (NYSE:PL) had its price target hoisted by equities researchers at The Goldman Sachs Group from $5.00 to $6.40 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 5.07% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Cantor Fitzgerald started coverage on shares of Planet Labs PBC in a report on Friday, January 24th. They issued an “overweight” rating and a $6.30 price target on the stock. Craig Hallum upgraded Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Citigroup increased their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Northland Securities boosted their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $5.97.

Planet Labs PBC Trading Down 0.1 %

Shares of NYSE:PL traded down $0.01 on Monday, hitting $6.09. The company had a trading volume of 4,888,335 shares, compared to its average volume of 6,593,182. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -14.77 and a beta of 1.40. The stock has a 50 day moving average price of $4.24 and a 200 day moving average price of $3.03. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.36.

Institutional Trading of Planet Labs PBC

A number of institutional investors and hedge funds have recently made changes to their positions in PL. Geode Capital Management LLC boosted its stake in Planet Labs PBC by 16.5% in the third quarter. Geode Capital Management LLC now owns 4,870,492 shares of the company’s stock valued at $10,864,000 after buying an additional 689,888 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Planet Labs PBC by 119.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock worth $1,996,000 after acquiring an additional 487,958 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Planet Labs PBC by 28.2% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock valued at $4,052,000 after purchasing an additional 400,000 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Planet Labs PBC by 244.3% during the 4th quarter. Van ECK Associates Corp now owns 520,364 shares of the company’s stock valued at $2,102,000 after purchasing an additional 369,206 shares during the last quarter. Finally, State Street Corp increased its position in Planet Labs PBC by 5.7% during the 3rd quarter. State Street Corp now owns 4,272,633 shares of the company’s stock worth $9,528,000 after purchasing an additional 230,076 shares in 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.