Planet Labs PBC (NYSE:PL) Shares Gap Up After Analyst Upgrade – MarketBeat

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Planet Labs PBC (NYSE:PLGet Rating) gapped up before the market opened on Tuesday after Needham & Company LLC raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $5.42, but opened at $5.86. Planet Labs PBC shares last traded at $6.18, with a volume of 98,680 shares traded.

A number of other research analysts also recently issued reports on PL. Benchmark cut their target price on shares of Planet Labs PBC from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. Craig Hallum lowered their price target on Planet Labs PBC from $15.00 to $10.00 in a research note on Wednesday, June 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Planet Labs PBC currently has an average rating of “Buy” and an average target price of $10.17.

Hedge Funds Weigh In On Planet Labs PBC

Several hedge funds have recently made changes to their positions in PL. GoalVest Advisory LLC acquired a new stake in Planet Labs PBC in the 1st quarter valued at about $41,000. Fingerlakes Wealth Management Inc. acquired a new stake in Planet Labs PBC during the second quarter worth approximately $43,000. Gerber Kawasaki Wealth & Investment Management acquired a new stake in Planet Labs PBC during the second quarter worth approximately $45,000. Quantbot Technologies LP acquired a new stake in Planet Labs PBC during the first quarter worth approximately $45,000. Finally, Mackenzie Financial Corp acquired a new stake in Planet Labs PBC during the second quarter worth approximately $46,000. 25.44% of the stock is owned by institutional investors.

Planet Labs PBC Trading Up 14.8 %

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The company’s 50-day simple moving average is $5.39 and its 200-day simple moving average is $5.24.

Planet Labs PBC (NYSE:PLGet Rating) last announced its earnings results on Tuesday, June 14th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business had revenue of $40.13 million for the quarter, compared to the consensus estimate of $39.46 million. Sell-side analysts anticipate that Planet Labs PBC will post -0.71 EPS for the current fiscal year.

Planet Labs PBC Company Profile

(Get Rating)

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 Open Geospatial Consortium, a cloud-native proprietary technology that performs critical processing and overall harmonizing of images for time series and data fusion and analysis; and space-based hardware and related software systems.

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