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

JMP Securities reaffirmed their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research note issued to investors on Friday morning, Benzinga reports. JMP Securities currently has a $4.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Craig Hallum upped their price target on shares of Planet Labs PBC from $2.00 to $2.50 and gave the stock a hold rating in a research note on Friday, September 6th. The Goldman Sachs Group lowered their target price on shares of 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 price target on shares of Planet Labs PBC from $7.00 to $5.00 and set a buy rating for the company in a research report on Friday, September 6th. Finally, Wedbush restated an outperform rating and issued a $5.00 price target on shares of Planet Labs PBC in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Planet Labs PBC presently has a consensus rating of Moderate Buy and an average target price of $3.93.

Planet Labs PBC Stock Down 2.8 %

Shares of NYSE:PL opened at $2.06 on Friday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $2.89. The company has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.10. The company has a market cap of $598.99 million, a P/E ratio of -4.29 and a beta of 1.00.

Institutional Inflows and Outflows

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