Planet Labs PBC (NYSE:PL) Price Target Raised to $2.50 at Craig Hallum

Planet Labs PBC (NYSE:PL) had its target price raised by Craig Hallum from $2.00 to $2.50 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

PL has been the topic of several other research reports. JMP Securities reissued a market outperform rating and issued a $4.00 price target on shares of Planet Labs PBC in a report on Thursday, June 27th. Needham & Company LLC reduced their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday. Finally, Wedbush restated an outperform rating and issued a $5.00 target price on shares of Planet Labs PBC in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Planet Labs PBC has an average rating of Moderate Buy and an average price target of $4.09.

Planet Labs PBC Price Performance

Shares of Planet Labs PBC stock opened at $1.92 on Friday. The firm has a market capitalization of $556.82 million, a PE ratio of -3.99 and a beta of 0.99. The company’s fifty day moving average price is $2.27 and its two-hundred day moving average price is $2.11. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Perkins Coie Trust Co acquired a new position in Planet Labs PBC during the 2nd quarter worth about $28,000. Dynamic Technology Lab Private Ltd acquired a new position in Planet Labs PBC during the 4th quarter worth about $34,000. Algert Global LLC acquired a new position in Planet Labs PBC during the 2nd quarter worth about $38,000. Virtu Financial LLC acquired a new position in Planet Labs PBC during the 1st quarter worth about $52,000. Finally, Victory Capital Management Inc. lifted its position in Planet Labs PBC by 30.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock worth $55,000 after buying an additional 5,284 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

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.