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

Planet Labs PBC (NYSE:PL) has been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.93.

A number of equities research analysts have recently weighed in on the company. Craig Hallum boosted their target price 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. The Goldman Sachs Group dropped their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Needham & Company LLC dropped their target price on Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, September 6th. 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. Finally, JMP Securities restated a “market outperform” rating and set a $4.00 target price on shares of Planet Labs PBC in a research report on Thursday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Planet Labs PBC by 1.4% during the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock worth $47,270,000 after acquiring an additional 261,019 shares in the last quarter. Teramo Advisors LLC raised its holdings in Planet Labs PBC by 3.0% during the second quarter. Teramo Advisors LLC now owns 1,132,700 shares of the company’s stock worth $2,107,000 after acquiring an additional 32,700 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Planet Labs PBC by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 636,374 shares of the company’s stock worth $1,184,000 after acquiring an additional 56,124 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Planet Labs PBC by 52.2% during the second quarter. Renaissance Technologies LLC now owns 600,800 shares of the company’s stock worth $1,117,000 after acquiring an additional 206,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Planet Labs PBC by 2.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 586,269 shares of the company’s stock worth $1,495,000 after acquiring an additional 13,075 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Planet Labs PBC Stock Performance

Shares of PL opened at $2.24 on Monday. The stock has a fifty day moving average price of $2.30 and a two-hundred day moving average price of $2.10. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.89. The company has a market cap of $657.40 million, a price-to-earnings ratio of -4.67 and a beta of 1.00.

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.