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

JMP Securities restated their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a $4.50 price target on the stock, up from their previous price target of $4.00.

Several other research analysts have also weighed in on PL. The Goldman Sachs Group dropped 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 reduced their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Planet Labs PBC in a research note on Friday, August 16th. Finally, Craig Hallum lifted their price objective on shares of Planet Labs PBC from $2.00 to $2.50 and gave the company a “hold” rating in a research note on Friday, September 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Planet Labs PBC presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

Planet Labs PBC Stock Down 2.9 %

Planet Labs PBC stock opened at $4.04 on Monday. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $4.99. The company’s fifty day simple moving average is $2.79 and its 200-day simple moving average is $2.36. The stock has a market cap of $1.19 billion, a P/E ratio of -8.60 and a beta of 1.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new position in Planet Labs PBC during the third quarter worth about $45,000. Algert Global LLC bought a new stake in Planet Labs PBC in the second quarter valued at $38,000. Vontobel Holding Ltd. raised its stake in Planet Labs PBC by 81.5% during the third quarter. Vontobel Holding Ltd. now owns 22,270 shares of the company’s stock worth $50,000 after acquiring an additional 10,000 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Planet Labs PBC during the third quarter valued at $61,000. Finally, SG Americas Securities LLC boosted its stake in shares of Planet Labs PBC by 234.6% in the 2nd quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after purchasing an additional 31,160 shares in the last quarter. Institutional investors own 41.71% of the company’s stock.

About Planet Labs PBC

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.