JMP Securities Reaffirms “Market Outperform” Rating for Planet Labs PBC (NYSE:PL)

Planet Labs PBC (NYSE:PL)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a report released on Thursday, Benzinga reports. They presently have a $4.00 price objective on the stock. JMP Securities’ price target would suggest a potential upside of 81.82% from the company’s previous close.

PL has been the topic of a number of other research reports. Needham & Company LLC reduced 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 increased their price objective 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. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Planet Labs PBC in a report on Friday, August 16th. Finally, The Goldman Sachs Group cut their target price on Planet Labs PBC from $3.50 to $3.10 and set a “buy” rating for the company in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.93.

Planet Labs PBC Trading Up 0.9 %

Shares of NYSE:PL traded up $0.02 during trading on Thursday, reaching $2.20. The company had a trading volume of 524,141 shares, compared to its average volume of 1,724,264. The company has a fifty day moving average of $2.30 and a two-hundred day moving average of $2.10. The stock has a market capitalization of $645.66 million, a P/E ratio of -4.58 and a beta of 1.00. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $2.89.

Institutional Trading of Planet Labs PBC

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Planet Labs PBC by 1.4% in the first quarter. Vanguard Group Inc. now owns 18,537,261 shares of the company’s stock worth $47,270,000 after buying an additional 261,019 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Planet Labs PBC during the first quarter worth about $164,000. PEAK6 Investments LLC grew its stake in shares of Planet Labs PBC by 224.2% in the first quarter. PEAK6 Investments LLC now owns 300,120 shares of the company’s stock worth $765,000 after purchasing an additional 207,558 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Planet Labs PBC during the 2nd quarter valued at about $632,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Planet Labs PBC during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.