Planet Labs PBC (NYSE:PL) Price Target Raised to $7.00 at Benchmark

Planet Labs PBC (NYSE:PL) had its target price raised by Benchmark from $4.00 to $7.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on PL. The Goldman Sachs Group boosted their price objective on shares of Planet Labs PBC from $5.00 to $6.40 and gave the company a “buy” rating in a research report on Monday. Cantor Fitzgerald began coverage on shares of Planet Labs PBC in a research report on Friday, January 24th. They set an “overweight” rating and a $6.30 target price on the stock. Craig Hallum raised Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, January 30th. Needham & Company LLC raised their price objective on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.27.

Planet Labs PBC Stock Performance

Shares of PL stock opened at $6.38 on Wednesday. Planet Labs PBC has a 1 year low of $1.67 and a 1 year high of $6.55. The stock has a fifty day moving average price of $4.34 and a 200 day moving average price of $3.09. The stock has a market cap of $1.89 billion, a PE ratio of -15.55 and a beta of 1.40.

Institutional Investors Weigh In On Planet Labs PBC

A number of institutional investors have recently added to or reduced their stakes in PL. Squarepoint Ops LLC increased its holdings in Planet Labs PBC by 343.7% during the 2nd quarter. Squarepoint Ops LLC now owns 172,092 shares of the company’s stock valued at $320,000 after purchasing an additional 133,307 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Planet Labs PBC by 8.1% in the second 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. Algert Global LLC bought a new position in shares of Planet Labs PBC in the 2nd quarter worth $38,000. SG Americas Securities LLC grew its position in shares of Planet Labs PBC by 65.9% during the 3rd quarter. SG Americas Securities LLC now owns 73,723 shares of the company’s stock worth $164,000 after buying an additional 29,281 shares during the period. Finally, Valeo Financial Advisors LLC bought a new stake in Planet Labs PBC in the third quarter valued at approximately $45,000. 41.71% of the stock is owned by institutional investors and hedge funds.

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.