JMP Securities Forecasts Strong Price Appreciation for Planet Labs PBC (NYSE:PL) Stock

Planet Labs PBC (NYSE:PL) had its target price upped by investment analysts at JMP Securities from $4.50 to $6.50 in a report issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 7.00% from the stock’s current price.

PL has been the subject of a number of other research reports. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Thursday. Needham & Company LLC increased 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 report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Planet Labs PBC from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald started 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 for the company. Finally, Citigroup raised their price objective on shares of Planet Labs PBC from $4.05 to $5.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $5.64.

Planet Labs PBC Stock Performance

NYSE:PL opened at $6.08 on Thursday. The company has a market capitalization of $1.80 billion, a PE ratio of -14.82 and a beta of 1.32. The company has a 50 day simple moving average of $4.19 and a two-hundred day simple moving average of $2.99. Planet Labs PBC has a fifty-two week low of $1.67 and a fifty-two week high of $6.36.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently modified their holdings of the company. Monterey Private Wealth Inc. bought a new position in shares of Planet Labs PBC in the 4th quarter worth $40,000. PFG Investments LLC bought a new position in shares of Planet Labs PBC in the 4th quarter worth $55,000. Valeo Financial Advisors LLC bought a new position in shares of Planet Labs PBC in the 3rd quarter worth $45,000. Algert Global LLC bought a new position in shares of Planet Labs PBC in the 2nd quarter worth $38,000. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Planet Labs PBC by 81.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after purchasing an additional 10,000 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

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.