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

JMP Securities reissued their market outperform rating on shares of Planet Labs PBC (NYSE:PL) in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a $4.50 price objective on the stock, up from their previous price objective of $4.00.

Several other research firms have also commented on PL. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Planet Labs PBC in a report on Friday, August 16th. The Goldman Sachs Group dropped their target price on 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 report on Friday, September 6th. Finally, 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 research report on Friday, September 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Planet Labs PBC Trading Down 2.9 %

Shares of PL opened at $4.04 on Monday. Planet Labs PBC has a 52 week low of $1.67 and a 52 week high of $4.99. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -8.60 and a beta of 1.33. The stock has a 50 day moving average of $2.79 and a 200-day moving average of $2.36.

Institutional Investors Weigh In On Planet Labs PBC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC raised its position in Planet Labs PBC by 28.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 1,817,000 shares of the company’s stock worth $4,052,000 after acquiring an additional 400,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Planet Labs PBC by 119.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,109 shares of the company’s stock valued at $1,996,000 after purchasing an additional 487,958 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Planet Labs PBC during the second quarter valued at approximately $632,000. The Manufacturers Life Insurance Company grew its position in Planet Labs PBC by 8.1% in the second 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Planet Labs PBC by 14.0% in the first 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 in the last quarter. Institutional investors own 41.71% of the company’s stock.

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.