Planet Labs PBC (NYSE:PL) Given Market Outperform Rating at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $4.00 price objective on the stock.

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

Planet Labs PBC Trading Down 0.5 %

Shares of NYSE:PL opened at $2.05 on Friday. The company has a market capitalization of $596.08 million, a price-to-earnings ratio of -4.27 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. The business has a 50-day moving average price of $2.31 and a 200 day moving average price of $2.10.

Institutional Inflows and Outflows

A number of institutional investors 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 purchased a new stake in Planet Labs PBC during the 4th quarter worth about $34,000. Algert Global LLC acquired a new position in shares of Planet Labs PBC during the 2nd quarter worth about $38,000. Virtu Financial LLC acquired a new stake in shares of Planet Labs PBC during the 1st quarter worth about $52,000. Finally, Victory Capital Management Inc. boosted its holdings in Planet Labs PBC by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 22,370 shares of the company’s stock valued at $55,000 after purchasing an additional 5,284 shares in the last quarter. Hedge funds and other 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.