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 traded.

Wall Street Analyst Weigh In

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

Planet Labs PBC Stock Up 3.1 %

The company’s fifty day simple moving average is $2.21 and its 200-day simple moving average is $2.29.

Institutional Investors Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the stock. Xponance Inc. purchased a new stake in shares of Planet Labs PBC during the fourth quarter valued at $25,000. Navalign LLC acquired a new position in Planet Labs PBC during the fourth quarter valued at $28,000. Bleakley Financial Group LLC acquired a new position in Planet Labs PBC during the fourth quarter valued at $28,000. Simplicity Solutions LLC acquired a new position in Planet Labs PBC during the fourth quarter valued at $28,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Planet Labs PBC during the fourth quarter valued at $34,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.