Planet Labs PBC (NYSE:PL) Shares Gap Up to $1.75

Planet Labs PBC (NYSE:PL) gapped up prior to trading on Thursday . The stock had previously closed at $1.75, but opened at $1.80. Planet Labs PBC shares last traded at $1.75, with a volume of 79,043 shares changing hands.

Analyst Upgrades and Downgrades

PL has been the subject of several analyst reports. The Goldman Sachs Group decreased their price objective on Planet Labs PBC from $4.80 to $4.20 and set a “buy” rating for the company in a report on Friday, April 12th. Benchmark decreased their price objective on Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Needham & Company LLC restated a “buy” rating and issued a $7.00 price objective on shares of Planet Labs PBC in a report on Monday, April 1st. JMP Securities decreased their price objective on Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a report on Monday, April 1st. Finally, Citigroup reduced their price target on Planet Labs PBC from $4.50 to $3.90 and set a “buy” rating for the company in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.68.

Planet Labs PBC Stock Down 0.9 %

The business has a fifty day moving average of $2.19 and a 200 day moving average of $2.28. The firm has a market cap of $507.13 million, a P/E ratio of -3.42 and a beta of 0.79.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds have recently bought and sold shares of PL. Xponance Inc. acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $25,000. Navalign LLC acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $28,000. Bleakley Financial Group LLC acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $28,000. Simplicity Solutions LLC acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Planet Labs PBC during the fourth quarter worth approximately $34,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Planet Labs PBC Company Profile

Planet Labs PBC designs, constructs, and launches constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company offers planet monitoring, basemap, tasking, apps, variables, hyperspectral, analytic feeds, and platform, as well as planet professional services including launch program, architectural workshop, planet training, integration and data services, and quick start services; and technical support services, which includes planet help center, developer resource center, and planet community and university.