Planet Labs PBC (NYSE:PL) Shares Up 7.8% – What’s Next?

Planet Labs PBC (NYSE:PL) rose 7.8% on Monday . The company traded as high as $4.59 and last traded at $4.55. Approximately 1,703,113 shares changed hands during trading, a decline of 33% from the average daily volume of 2,558,991 shares. The stock had previously closed at $4.22.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Planet Labs PBC from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Tuesday, December 17th. The Goldman Sachs Group cut their price objective on shares of Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Citigroup raised their price objective on Planet Labs PBC from $4.05 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Craig Hallum increased their target price on Planet Labs PBC from $2.50 to $3.50 and gave the company a “hold” rating in a research note on Tuesday, December 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of Planet Labs PBC in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.33.

Planet Labs PBC Trading Up 4.7 %

The stock has a market cap of $1.31 billion, a P/E ratio of -10.78 and a beta of 1.32. The company has a 50-day moving average price of $3.52 and a two-hundred day moving average price of $2.67.

Institutional Investors Weigh In On Planet Labs PBC

Several institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC purchased a new position in shares of Planet Labs PBC during the 2nd quarter valued at about $38,000. Valeo Financial Advisors LLC acquired a new position in Planet Labs PBC in the third quarter valued at approximately $45,000. Vontobel Holding Ltd. increased its holdings 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 valued at $50,000 after purchasing an additional 10,000 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Planet Labs PBC during the 3rd quarter valued at approximately $61,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Planet Labs PBC by 11.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after buying an additional 6,910 shares in the last quarter. Institutional investors and hedge funds 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.