Defense World summarize recent analyst guidance of Planet Labs stock, pairing it with Marketbeat data of institutional investor purchases and sales. Although currently trading below $2.00 per share, Defense World cites analyst research reports from Citigroup, Needham, Goldman Sachs and JMP Securities all of which published target prices between $3.90 to $7.00. (However all but Needham reportedly lowered price price targets from prior.)
With all these analysts bullish on PL, are the traders working downstair from these analysts buying it? According to data also provided by Defense World: no. In each of the last six quarters, institutional money buying PL stock has been trending towards zero. Clearly hedge funds and big money have doubts about these analysts’ price optimism.