Planet Labs PBC (NYSE:PL) Rating Reiterated by JMP Securities

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

PL has been the topic of a number of other reports. Craig Hallum upped their price objective on Planet Labs PBC from $2.00 to $2.50 and gave the company a hold rating in a 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 report on Friday, September 6th. Wedbush restated an outperform rating and issued a $5.00 price objective on shares of Planet Labs PBC in a report on Friday, August 16th. Finally, 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 for the company in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $3.93.

Planet Labs PBC Stock Up 1.4 %

Shares of NYSE:PL opened at $2.24 on Thursday. Planet Labs PBC has a 52-week low of $1.67 and a 52-week high of $2.89. The stock has a market cap of $651.33 million, a P/E ratio of -4.67 and a beta of 1.00. The business has a fifty day moving average of $2.30 and a two-hundred day moving average of $2.10.

Planet Labs PBC (NYSE:PL) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $61.09 million for the quarter, compared to analyst estimates of $61.57 million. Planet Labs PBC had a negative return on equity of 26.87% and a negative net margin of 57.71%. On average, equities analysts anticipate that Planet Labs PBC will post -0.41 earnings per share for the current year.

Institutional Trading of Planet Labs PBC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in Planet Labs PBC by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,850 shares of the company’s stock worth $134,000 after buying an additional 5,395 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Planet Labs PBC by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,678 shares of the company’s stock valued at $130,000 after buying an additional 6,215 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Planet Labs PBC by 11.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,256 shares of the company’s stock worth $121,000 after acquiring an additional 6,910 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Planet Labs PBC by 9.5% during the first quarter. 180 Wealth Advisors LLC now owns 130,926 shares of the company’s stock worth $334,000 after acquiring an additional 11,365 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.