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

Planet Labs PBC (NYSE:PL) had its target price lifted by stock analysts at Benchmark from $4.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 10.15% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Planet Labs PBC in a research note on Friday, January 24th. They issued an “overweight” rating and a $6.30 target price for the company. Craig Hallum raised shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Thursday, January 30th. Needham & Company LLC raised their target price on shares of Planet Labs PBC from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price target 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. Finally, Northland Securities lifted their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.27.

Planet Labs PBC Stock Down 1.5 %

NYSE:PL traded down $0.10 during trading hours on Wednesday, reaching $6.36. 2,714,427 shares of the company’s stock were exchanged, compared to its average volume of 6,649,678. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -15.50 and a beta of 1.40. The company has a 50-day moving average of $4.34 and a 200 day moving average of $3.09. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $6.55.

Institutional Trading of Planet Labs PBC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PL. Algert Global LLC acquired a new position in shares of Planet Labs PBC during the 2nd quarter worth about $38,000. Monterey Private Wealth Inc. acquired a new position in shares of Planet Labs PBC during the 4th quarter worth about $40,000. Valeo Financial Advisors LLC acquired a new position in shares of Planet Labs PBC during the 3rd quarter worth about $45,000. Vontobel Holding Ltd. grew its position in shares of Planet Labs PBC by 81.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after buying an additional 10,000 shares during the period. Finally, PFG Investments LLC acquired a new position in shares of Planet Labs PBC during the 4th quarter worth about $55,000. 41.71% of the stock is currently 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.