Planet Labs PBC’s (PL) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research report released on Thursday, Benzinga reports. They currently have a $4.00 target price on the stock.

Other analysts have also issued research reports about the company. The Goldman Sachs Group cut their target price on Planet Labs PBC from $3.50 to $3.10 and set a buy rating on the stock in a research report on Tuesday, September 10th. Needham & Company LLC decreased their target price on Planet Labs PBC from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, September 6th. Craig Hallum lifted their target price on Planet Labs PBC from $2.00 to $2.50 and gave the company a hold rating in a research report on Friday, September 6th. Finally, Wedbush reissued an outperform rating and set a $5.00 price target on shares of Planet Labs PBC in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $3.93.

Planet Labs PBC Price Performance

Shares of PL opened at $2.24 on Thursday. The firm has a 50-day simple moving average of $2.30 and a two-hundred day simple moving average of $2.10. The stock has a market cap of $657.40 million, a PE ratio of -4.67 and a beta of 1.00. Planet Labs PBC has a 1-year low of $1.67 and a 1-year high of $2.89.

Institutional Trading of Planet Labs PBC

Several hedge funds have recently added to or reduced their stakes in PL. Perkins Coie Trust Co acquired a new stake in shares of Planet Labs PBC in the 2nd quarter valued at $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in Planet Labs PBC in the fourth quarter valued at $34,000. Algert Global LLC purchased a new stake in Planet Labs PBC during the 2nd quarter worth about $38,000. Virtu Financial LLC acquired a new position in shares of Planet Labs PBC during the 1st quarter worth about $52,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Planet Labs PBC by 30.9% in the 4th quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock valued at $55,000 after acquiring an additional 5,284 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company’s platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.