Planet Labs PBC (NYSE:PL) Hits New 1-Year High – What’s Next?

Shares of Planet Labs PBC (NYSE:PL) reached a new 52-week high on Tuesday . The company traded as high as $6.71 and last traded at $6.49, with a volume of 9596640 shares trading hands. The stock had previously closed at $6.00.

Analysts Set New Price Targets

Several research firms have weighed in on PL. The Goldman Sachs Group boosted their price target on Planet Labs PBC from $5.00 to $6.40 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Needham & Company LLC boosted their target price 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. Citigroup increased their price target on shares of Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Craig Hallum upgraded shares of Planet Labs PBC from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, January 30th. Finally, Northland Securities upped their target price on shares of Planet Labs PBC from $5.00 to $7.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $6.27.

Planet Labs PBC Trading Down 1.1 %

The company has a market cap of $1.82 billion, a price-to-earnings ratio of -14.93 and a beta of 1.40. The business’s 50 day moving average price is $4.56 and its 200-day moving average price is $3.22.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds have recently bought and sold shares of PL. Monterey Private Wealth Inc. acquired a new stake in shares of Planet Labs PBC during the fourth quarter worth $40,000. SBI Securities Co. Ltd. bought a new position in Planet Labs PBC during the fourth quarter worth about $42,000. Sciencast Management LP acquired a new stake in Planet Labs PBC in the 4th quarter worth about $43,000. Valeo Financial Advisors LLC bought a new stake in Planet Labs PBC in the 3rd quarter valued at about $45,000. Finally, 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 purchasing an additional 10,000 shares in the last quarter. 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.