Planet Labs PBC (NYSE:PL) PT Lowered to $4.20 at The Goldman Sachs Group

Planet Labs PBC (NYSE:PL) had its price target cut by The Goldman Sachs Group from $4.80 to $4.20 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on PL. Needham & Company LLC reaffirmed a buy rating and set a $7.00 target price on shares of Planet Labs PBC in a research note on Monday, April 1st. JMP Securities dropped their target price 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. Benchmark dropped their target price 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. Finally, Citigroup dropped their target price 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 analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $5.01.

Planet Labs PBC Trading Down 10.4 %

Shares of NYSE:PL opened at $1.80 on Friday. The company has a market capitalization of $523.12 million, a PE ratio of -3.53 and a beta of 0.78. The business has a 50 day moving average of $2.23 and a two-hundred day moving average of $2.30. Planet Labs PBC has a 12-month low of $1.80 and a 12-month high of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Xponance Inc. acquired a new position in Planet Labs PBC during the fourth quarter worth $25,000. Navalign LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $28,000. Bleakley Financial Group LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $28,000. Simplicity Solutions LLC acquired a new position in Planet Labs PBC during the fourth quarter worth $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Planet Labs PBC during the fourth quarter worth $34,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Planet Labs PBC

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.