Planet Labs PBC (NYSE:PL) PT Lowered to $3.10 at The Goldman Sachs Group

Planet Labs PBC (NYSE:PL) had its price target trimmed by The Goldman Sachs Group from $3.50 to $3.10 in a research report report published on Tuesday, Marketbeat reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Craig Hallum increased their target price on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a hold rating in a research note on Friday, September 6th. JMP Securities reissued a market outperform rating and set a $4.00 price objective on shares of Planet Labs PBC in a research report on Friday, September 6th. Needham & Company LLC decreased 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. Finally, Wedbush reiterated an outperform rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Planet Labs PBC presently has a consensus rating of Moderate Buy and a consensus price target of $3.93.

Planet Labs PBC Stock Performance

Shares of PL opened at $2.06 on Tuesday. The firm has a market cap of $597.54 million, a PE ratio of -4.28 and a beta of 0.99. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.93. The business’s 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.10.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. King Luther Capital Management Corp purchased a new position in Planet Labs PBC during the fourth quarter worth about $963,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Planet Labs PBC during the second quarter valued at approximately $632,000. Vanguard Group Inc. increased its position in shares of Planet Labs PBC by 1.4% during the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock valued at $47,270,000 after acquiring an additional 261,019 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Planet Labs PBC by 78.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,194 shares of the company’s stock worth $1,341,000 after acquiring an additional 252,406 shares during the period. Finally, PEAK6 Investments LLC boosted its position in Planet Labs PBC by 224.2% in the first quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock worth $765,000 after purchasing an additional 207,558 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

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.