Planet Labs PBC (NYSE:PL) Stock Rating Reaffirmed by 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 Friday, Benzinga reports. JMP Securities currently has a $4.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC lowered their target price on shares of Planet Labs PBC from $7.00 to $5.00 and set a buy rating on the stock in a research note on Friday, September 6th. Craig Hallum increased their price target on Planet Labs PBC from $2.00 to $2.50 and gave the stock a hold rating in a research report on Friday, September 6th. The Goldman Sachs Group cut their price objective on Planet Labs PBC from $3.50 to $3.10 and set a buy rating for the company in a research report on Tuesday, September 10th. Finally, Wedbush reaffirmed an outperform rating and set a $5.00 target price on shares of Planet Labs PBC in a research note 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. Based on data from MarketBeat, Planet Labs PBC currently has a consensus rating of Moderate Buy and a consensus price target of $3.93.

Planet Labs PBC Price Performance

Shares of NYSE PL opened at $2.05 on Friday. The stock has a market capitalization of $596.08 million, a price-to-earnings ratio of -4.27 and a beta of 1.00. The firm’s 50 day simple moving average is $2.31 and its 200-day simple moving average is $2.10. Planet Labs PBC has a 12 month low of $1.67 and a 12 month high of $2.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted 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 worth $55,000 after buying an additional 5,284 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $144,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Planet Labs PBC in the fourth quarter valued at approximately $34,000. King Luther Capital Management Corp purchased a new stake in Planet Labs PBC in the 4th quarter valued at $963,000. Finally, Teramo Advisors LLC increased its stake in shares of Planet Labs PBC by 3.8% in the 4th quarter. Teramo Advisors LLC now owns 1,100,000 shares of the company’s stock worth $2,717,000 after acquiring an additional 40,000 shares during 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.