Planet Labs PBC (NYSE:PL) Sees Strong Trading Volume

Shares of Planet Labs PBC (NYSE:PLGet Free Report) saw unusually-strong trading volume on Monday . Approximately 660,336 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 1,207,418 shares.The stock last traded at $2.38 and had previously closed at $2.55.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $7.00 price target on shares of Planet Labs PBC in a research report on Monday. JMP Securities reduced their price target on shares of Planet Labs PBC from $5.50 to $4.00 and set a “market outperform” rating for the company in a research report on Monday. Benchmark cut their price objective on shares of Planet Labs PBC from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Craig Hallum downgraded shares of Planet Labs PBC from a “buy” rating to a “hold” rating and set a $3.00 price objective on the stock. in a report on Friday, December 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.49.

View Our Latest Research Report on Planet Labs PBC

Planet Labs PBC Stock Performance

The stock has a 50 day moving average of $2.27 and a 200-day moving average of $2.34. The firm has a market capitalization of $619.84 million, a P/E ratio of -4.23 and a beta of 0.79.

Institutional Investors Weigh In On Planet Labs PBC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Planet Labs PBC by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 18,276,242 shares of the company’s stock valued at $45,142,000 after buying an additional 502,346 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Planet Labs PBC by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 44,463 shares of the company’s stock worth $110,000 after buying an additional 5,078 shares in the last quarter. Barclays PLC boosted its stake in Planet Labs PBC by 82.1% in the fourth quarter. Barclays PLC now owns 478,582 shares of the company’s stock worth $1,182,000 after buying an additional 215,769 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Planet Labs PBC by 161.2% during the fourth quarter. Voya Investment Management LLC now owns 2,020,521 shares of the company’s stock valued at $4,991,000 after purchasing an additional 1,246,940 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Planet Labs PBC by 89.5% during the fourth quarter. Royal Bank of Canada now owns 60,997 shares of the company’s stock valued at $150,000 after purchasing an additional 28,811 shares during the period. 41.71% of the stock is currently owned by institutional investors.

About Planet Labs PBC

(Get Free Report)

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.

Read More

Receive News & Ratings for Planet Labs PBC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Labs PBC and related companies with MarketBeat.com's FREE daily email newsletter.