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 report released on Monday,Benzinga reports. JMP Securities currently has a $4.50 price target on the stock, up from their prior price target of $4.00.

PL has been the topic of several other reports. The Goldman Sachs Group dropped 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 report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Planet Labs PBC in a research note on Friday, August 16th. 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 report on Friday, September 6th. Finally, Needham & Company LLC lowered their target price 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.14.

Planet Labs PBC Trading Up 2.1 %

Shares of PL stock opened at $3.95 on Monday. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $4.99. The stock has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.40. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -8.40 and a beta of 1.33.

Hedge Funds Weigh In On Planet Labs PBC

Large investors have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in shares of Planet Labs PBC in the 3rd quarter worth $45,000. Algert Global LLC purchased a new stake in Planet Labs PBC in the second quarter valued at about $38,000. Vontobel Holding Ltd. boosted its holdings in Planet Labs PBC by 81.5% in 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 purchased a new stake in shares of Planet Labs PBC during the third quarter worth about $61,000. Finally, SG Americas Securities LLC increased its holdings in shares of Planet Labs PBC by 234.6% during the second quarter. SG Americas Securities LLC now owns 44,442 shares of the company’s stock valued at $83,000 after acquiring an additional 31,160 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

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.